Adam Fuller
Senior Loan Officer
Mortgage 1 Inc.
P: (616) 552-4663 x2
www.m1gr.com/af
Quick App
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Home
3243 East Paris Ave. SE
Grand Rapids MI 49512
License:
1317422

Modest Incidental Weakness

Saturday, January 3, 2026

Modest Incidental Weakness

Despite a bit of incidental selling today, the bond market has survived the winter holiday season without even attempting to break outside the narrow prevailing range. This is especially true for shorter duration Treasuries and MBS. It has been and continues to be the case that we won't get a sense of the next wave of momentum until next week at the earliest. It could take even longer if the econ data fails to make a compelling case for better or worse.

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Modest Incidental Weakness

MBS & Treasury Markets
UMBS 5.0 99.67 -0.05 10YR 4.186% +0.018% 1/2/2026 5:00PM EST
Negative Reprice Risk Increasing
MBS are now down 2 ticks (.06) on the day and 5 ticks (.16) from many lenders' rate sheet print times.  Jumpier lenders could actively be considering negative reprices.  The average lender will be in the same boat if we lose another tick or two. 10yr yields are at the highs of the day, up 2.3bps at 4.192.   READ MORE
Alert:
Down an Eighth From AM Highs
MBS Morning:
Monitoring For Misbehavior
Today's Mortgage Rates
30YR Fixed 6.20% +0.00% 15YR Fixed 5.75% -0.01% 1/2/2026
Mortgage Rates Stay Flat to End The Week
Heading into the week, we knew there was a high bar for any legitimate mortgage rate fireworks. In addition to a dearth of scheduled events with the power to cause volatility, the last two weeks of the year don't tend to see big changes in the bond market.  There are exceptions, but 2025 wasn't one of them. In fact, bond yields and mortgage rates have been locked in a narrow, sideways range since September as the market waits for the most important economic reports t...   READ MORE
Last Week This Week Next Week
Economic Calendar
Time Event Period Actual Forecast Prior
Friday, Jan 02
9:45AM Dec S&P Global Manuf. PMI Dec 51.8 51.8 52.2
10:00AM Nov Construction spending (%) Nov
Monday, Jan 05
10:00AM Dec ISM Manufacturing Employment Dec 44.0
10:00AM Dec ISM Mfg Prices Paid Dec 59.0 58.5
10:00AM Dec ISM Manufacturing PMI Dec 48.3 48.2
2:00PM Dec Total Vehicle Sales (ml) Dec 15.7M 15.6M
Recent Housing News
Read My Latest Newsletter
Mortgage Market in Holiday Mode Despite Big-Ticket Data
12/19/2025 4:08PM
The two most important economic reports of the month were released this week. Both showed promising results for rates, and although rates improved, the reaction was smaller than expected . First up was November's jobs report, which came out on Tuesday morning. It showed the highest unemployment rate since 2021 at 4.6%--well above the 4.4% forecast. Under normal circumstances, this woul... READ MORE
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Adam Fuller
Senior Loan Officer
Mortgage 1 Inc.
P: (616) 552-4663 x2
www.m1gr.com/af
Quick App
Live Rates
Home
3243 East Paris Ave. SE
Grand Rapids MI 49512
License:
1317422
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Reproduction or redistribution this newsletter, outside of the distribution services provided, is prohibited. Interest rate data provided in this newsletter are national averages. Rate/APR terms may differ. All information provided "as is" for informational purposes only.