http://www.mortgagenewsdaily.com/ Get the latest Mortgage News Today by Ben Gerritsen https://www.mortgagenewsdaily.com/markets/mbs-recap-06042026 Thu, 04 Jun 2026 20:12:53 GMT 6a21eb10a6791958c5f41cd5 Matthew Graham Modest Gains Maintained After Intraday Slippage Slippage is a bit less severe than leakage. Neither of them will turn a green day red, but they both erode morning gains. Today's gains primarily followed a pre-market comment from Trump who said the US was in the middle of final negotiations to end the Iran war. Bonds hit their best levels shortly thereafter and then the slippage set in. The backtracking was more evident in Treasuries with the 10yr losing almost half of the day-over-day gains. MBS managed to hold firmer, and were still broadly in line with the middle of the AM range by 4pm. Friday brings the jobs report. While it hasn't been as big of a flashpoint recently, we'd never rule out a reaction in the event of a big beat/miss. Econ Data / Events Jobless Claims (May)/30 225K vs 213K f'cast, 215K prev Market Movement Recap 08:42 AM Decently stronger overnight and no drama so far. MBS up 7 ticks (.22) and 10yr down 4.1bps at 4.455 11:34 AM Sideways so far and just a hair weaker.  MBS still up 6 ticks (.19) and 10yr down 3.1bps at 4.465 03:31 PM Treasuries near weakest levels but 10yr still down 2.5bps at 4.471. MBS still up 6 ticks (.19). Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mortgage-rates-06042026 Thu, 04 Jun 2026 19:13:00 GMT 6a21d16af413a6d55c9799c2 Matthew Graham After hitting long-term highs on May 19th, mortgage rates dropped somewhat quickly by May 26th. Ever since then, they've been moving back and forth in a very narrow range. Today's movement happened to be the good kind with the average lender cutting top-tier 30yr fixed rates by 0.03%. As always, keep in mind that mortgages are most commonly offered in 0.125% increments. When our daily rate index changes by only 0.03%, it's because we are also measuring the underlying costs associated with any given rate and extrapolating the relative impact on interest rates. To use a crude example, let's consider two different hypothetical rate quote options yesterday and today. Yesterday 6.625% at a cost of $12 upfront 6.50% at a cost of $24 upfront Today 6.625% at a cost of $9 upfront 6.50% at a cost of $21 upfront Now pretend you only have $15 to spend for closing costs. You still can't afford to buy your rate down to 6.5%, and you'll still be choosing the 6.625% quote. But while the interest rate portion of your quote didn't change, the actual interest cost improved.  Our index captures and expresses these improvements in a single number.  Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/opinion/pipelinepress-06042026 Thu, 04 Jun 2026 15:52:43 GMT 6a21720b704c51f58f75f5c3 Rob Chrisman Lender and Broker Products, Software, and Services There’s been plenty of chatter lately about lenders trying to rebuild realtor referral pipelines. One company may have found a different angle. Inside Real Estate (yes, the company that bought BoomTown) has quietly launched a new lead solution designed specifically for lenders focused on agent relationships. Consumers enter looking for both financing guidance and help finding a home, creating opportunities for lenders to engage early in the process and strengthen agent partnerships. Several participating lenders have reportedly received qualified applications within days of launch, while also generating new conversations with referral partners. BoldTrail already powers lead generation and nurture for the largest real estate brands and is the chosen partner for more than 400k agents and 14k LOs nationwide. One catch: markets are exclusive… Might be worth checking if your market is still open. Schedule a call or Email/text Mike Ensch at 562-644-2373. Are you making the most of every borrower relationship? Could your retention strategy be working harder for your business? In today’s market, retention takes more than a first-lien mortgage strategy. Lenders looking to strengthen long-term borrower value are turning to HELOCs and HELOANs to support growth across market cycles. Join FirstClose VP of Client Success Andria Lightfoot and Optimal Blue PPE Solution Specialist Cheri Wolfe on June 10 at noon CT for a webinar on building a smarter retention strategy through home equity lending. You’ll learn why these products matter, how pricing consistency can support scalable execution, and how originators can identify opportunities at the point of sale. Register now to strengthen your retention strategy and drive more value from every borrower relationship. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mbs-morning-06042026 Thu, 04 Jun 2026 13:14:33 GMT 6a2188a0a6791958c5f35605 Matthew Graham The following newswire hit about an hour before the open: TRUMP: US IN THE MIDDLE OF FINAL NEGOTIATIONS TO END IRAN WAR.  Bond yields and oil prices had already fallen modestly up to that point, but more than doubled the overnight rally after that. Yields are thus starting the day roughly 4bps lower, perfectly erasing the entirety of Wednesday's losses. Jobless Claims had no impact at 8:30am ET. An hour earlier, Challenger Layoffs possibly moved the needle microscopically, but it's just as likely that the ongoing drop in oil prices did the trick. There's no other big ticket data for the day, so we're headline watching and waiting for Friday's jobs report. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mbs-recap-06032026 Wed, 03 Jun 2026 19:47:12 GMT 6a2093b4a6791958c5f19739 Matthew Graham Minimal Change After Overnight Volatility War headlines struck back in the overnight session. Specifically, Iran struck back against various U.S. and allied sites, allegedly in response to U.S. strikes on Iranian sites. Peace prospects take an obvious hit in response to these escalations and financial markets remain willing to react accordingly. Oil prices were already moving up to the highest levels in more than a week in the overnight session and that momentum peaked at 6am ET. Treasury yields followed and then stayed broadly sideways for the duration of the domestic session. In the bigger picture, 10s are well within the 4.43-4.51 range that dominated last week. War headline sensitivity continues accounting for 90% of forward-looking volatility risk while econ data rounds out the rest.  Econ Data / Events ADP jobs (May) 122K vs 117K f'cast, 109K prev ISM N-Mfg PMI (May) 54.5 vs 53.8 f'cast, 53.6 prev ISM Services Employment (May) 47.9 vs -- f'cast, 48.0 prev ISM Services New Orders (May) 57.3 vs -- f'cast, 53.5 prev ISM Services Prices (May) 71.3 vs -- f'cast, 70.7 prev Market Movement Recap 08:17 AM Moderately weaker overnight on renewed Iran war hostilities.  Not much reaction to ADP data. 10yr up 3.7bps at 4.49 and MBS down a quarter point 10:17 AM modest improvement after ISM data, but only in Treasuries. 10yr up 2.3bps at 4.476 and MBS still down a quarter point 11:45 AM weakest levels with MBS down 10 ticks (.31) and 10yr up 4.5bps at 4.498 02:37 PM Sideways at weaker levels. MBS down 9 ticks (.28) and 10yr up 3.6bps at 4.489 Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mortgage-rates-06032026 Wed, 03 Jun 2026 19:03:00 GMT 6a207cf7416cd8eabd9eb433 Matthew Graham Imagine being stuck at home watching TV for 3 months and only being able to stream one show. That's been the case for the bond market (which dictates interest rates) since the beginning of March. The show in question involves watching war-related headlines and reacting in roughly the same manner as oil prices. Today's episode was more interesting than yesterday's. Key details included reports of Iranian missile strikes on various U.S. and allied targets. In general, rates have improved on news that increases the odds of a peace deal. Unsurprisingly, today's headlines (technically, yesterday night, but reflected in today's rate movement) did the opposite. Thanks to headline fatigue and desensitization, the rate market has been responding with less volatility over the past few weeks. As such, today's increase was fairly modest in the big picture but nonetheless leaves rates near their highest levels in more than 9 months. [thirtyyearmortgagerates] Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/opinion/pipelinepress-06032026 Wed, 03 Jun 2026 16:00:33 GMT 6a201e0c1b2707f534dd70e0 Rob Chrisman The latest and greatest with FHFA Director Bill Pulte (happy 38th birthday last week!) is that President Trump tapped him (more below), to be the acting director of national intelligence. At this point he is still running Freddie Mac and Fannie Mae. The President cited Pulte’s work at the FHFA and his role as chair of Fannie & Freddie, saying Pulte “has deep experience managing the most sensitive matters in America, the safety and soundness of the Markets, and over 10 trillion dollars at Fannie Mae/Freddie Mac, a substantial increase from where it was just 12 months ago.” For now, our industry and consumers wait on F&F to make a firm decision and move forward with “credit modernization” (aka credit score wars). VantageScore, FICO Direct, tri-merge, and single score models all have their proponents and opponents. Meanwhile, the number of lenders charging borrowers up-front for credit costs continues to limp along, meaning that the company eats the costs for loans that don’t actually fund. (Today’s podcast can be found here and this week’s ‘casts are sponsored by Experian and the Experian Verify Hub. The platform brings manual submissions in-house and consolidates post-submission activities into a single environment, aiming to provide more streamlined access, faster insights, and a more cohesive user experience. Today’s has an interview with Experian’s Sophia Cheung on simplifying and modernizing the verification process by consolidating multiple systems into a single platform, further streamlining workflows, and increasing value) Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mbs-morning-06032026 Wed, 03 Jun 2026 13:13:31 GMT 6a203720a6791958c5f0dbf8 Matthew Graham Iran launched missiles at several U.S. allies yesterday afternoon and oil prices responded accordingly with a move back up to May 22nd levels. Treasury yields followed, but have generally been staying lower than the oil price correlation would suggest. 10yr yields continue holding a narrow range between 4.43 and 4.52. They're roughly 3.5bps higher to start the day at 4.485 and MBS are down a quarter point. ADP employment came out almost right on the screws and garnered no notable bond market response. At 10am ET, we'll get ISM Services, which is one of this week's few reports that might have enough of an impact to influence intraday bond market volatility that is otherwise taking most of its cues from the war. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mbs-recap-06022026 Tue, 02 Jun 2026 20:59:01 GMT 6a1f529ca6791958c5ef444f Matthew Graham Uncommonly Uneventful Day No one will accuse us of clickbait titles today, or even clickbait analysis. There's just not much to say. Unlike the average trading day of late, bonds held inside a very narrow range AND didn't visibly respond to any major Iran war news (and the typical oil price volatility that follows). Oil prices definitely moved a bit, and bond yields generally followed, but the range was well inside yesterday's. For a few minutes, it looked like bonds were going to struggle with the job openings data, but they quickly found their footing and drifted sideways into the close. Market Movement Recap 09:36 AM Modestly stronger overnight but nearly unchanged now with MBS up only 1 tick (.03). 10yr down 1bp at 4.446 10:12 AM Some selling after JOLTS data, but stabilizing now. MBS down 1 tick (.03) and 10yr down just over half a bp at 4.45 Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mortgage-rates-06022026 Tue, 02 Jun 2026 19:59:00 GMT 6a1f3b2eab2ed9370ce5d461 Matthew Graham It was an uneventful day for the bond market and, thus, mortgage rates. Unlike the average trading day of late, there were no conspicuous war-related headlines making for shocks to oil prices. Since the start of the war, interest rates have had a strong correlation with oil prices due to inflation implications. That correlation was present today, but oil moved lower and higher well inside yesterday's range.  Top tier 30yr fixed rates fell from 6.60 to 6.57% for the average lender. This is very close to the lowest level in more than 2 weeks (6.56% seen last Friday).  Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full