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| Uneventful And Slightly Stronger | ||
| 12/29/2025 3:26 PM | ||
| Uneventful And Slightly Stronger Although volumes picked up a bit versus Friday, no one would confuse the late December bond market from exhibiting any unexpected signs of life. A stronger open in Europe made for a modest improvement overnight and almost all of the domestic session was spent treading water ...Read More | ||
| New 2-Month Lows, Just Barely | ||
| 12/29/2025 2:31 PM | ||
| With another holiday closure on deck and light calendar of events, the rate market is off to another uneventful start this week. In fact, the average lender barely budged from last Friday. But it was enough for MND"s 30yr fixed rate index to tick down by 0.01%. This is the lowest level since October 28th--just barely edging out the lows seen on No...Read More | ||
| Pricing Product; 2026 In-Person Events Kick Off Soon; Fraud Continues, Take Your Own Exams! | ||
| 12/29/2025 10:48 AM | ||
| Some percentage of readers reading today’s Commentary are doing so from an airport in the Northeast, waiting for their delayed flight to depart. Whether manmade or natural, climate change and weather “occurrences” are a fact of life, and can’t be corrected with technology, but data is certainly used in predicting weather. Vendors and lenders think ...Read More | ||
| Mostly Sideways Despite Some Help From Europe | ||
| 12/29/2025 9:26 AM | ||
| In addition to this week"s holiday closure (early close Wednesday, fully closed Thursday), the econ calendar is also lacking in terms of potential sources of volatility. A majority of any meaningful momentum is most likely to come from month/quarter/year-end trading today and tomorrow, but think of that more like a caveat for any inciden...Read More | ||
| Bonds End Unchanged After Another Quiet Session | ||
| 12/26/2025 2:17 PM | ||
| Bonds End Unchanged After Another Quiet Session This is essentially placeholder commentary to serve as Friday"s recap even though no commentary is needed this week. Bonds saw some incidental strength in the AM and weakness heading into the PM. The net effect was unchanged trading levels by the 3pm CME...Read More | ||
| Mortgage Rates Match 2-Month Lows | ||
| 12/26/2025 2:00 PM | ||
| Because mortgage rates are determined by the bond market, a boring market day typically translates to a boring mortgage rate day. But that"s not entirely true today. While the level of movement is indeed very small, it only took a small movement to get the average 30yr fixed rate down to their lowest levels since the end of October. N...Read More | ||
| Non-QM, DSCR, Pricing Engine Products; Conventional Conforming News | ||
| 12/26/2025 10:51 AM | ||
| Lender and Broker Services, Products, and Software In an open letter reflecting on a landmark 2025, Polly Founder and CEO Adam Carmel shares a powerful message of gratitude and strategic evolution. The company has spent the past year leading the market in enterprise innovation and Generative AI, continuing to demonstrate that the era of stagnant,...Read More | ||
| Technically Open, But Unofficially Still a Holiday Trading Session | ||
| 12/26/2025 9:58 AM | ||
| Although the bond market is technically open today, it might as well not be. Late year holidays (Thanksgiving, X-mas, New Year) depress volume and liquidity more than any others. Today is neither an official holiday nor an early close day, but considering Christmas fell on a Thursday and the federal employee holiday, trading is just as sparse ...Read More | ||
| Decent Gains With Some Help From 7yr Auction | ||
| 12/24/2025 12:18 PM | ||
| Decent Gains With Some Help From 7yr Auction You know it"s a holiday with an early closure if we"re talking about a 7yr Treasury auction having an impact on the bond market. To be fair, 7s have had an impact once or twice in the past, but the bar is certainly high. The holiday calendar makes the bar a bit l...Read More | ||
| Lowest Rates in Nearly a Month | ||
| 12/24/2025 12:01 PM | ||
| It was a short day for the bond market that underlies mortgage rates, but a good one. A side effect of holiday weeks and early market closures is a bit of random volatility without any obvious justification. When volume and participation are low, bonds can move a bit more than they otherwise might. All that to say today"s improvement was luck of t...Read More | ||
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