Mark Shay
Mortgage Advisor
Fairway Independent Mortgage Corp
M: (248) 765-8001
markshayfairwaymortgage.com
3525 Piedmont Rd. NE Bldg. 6 Suite 305
Atlanta GA 30305
License:
995724

Abbreviated Friday Opening at Week's Best Levels

Friday, May 22, 2026

Abbreviated Friday Opening at Week's Best Levels

Bonds are starting the session at the best levels of the week with modest overnight gains getting a small boost from news that Pakistan's army chief (a central figure in mediating US/Iran peace talks) is en route to Tehran. Trading ends at 2pm today instead of 5pm, as is usually the case for a Friday before a Monday federal holiday. Econ data is light, but additional war headlines could still move the needle.

Latest Video Analysis

Peace Deal Rumors Make For Mid-Day Reversal

MBS & Treasury Markets
UMBS 5.0
97.48
-0.03 
10YR TREASURY
4.574
+0.005 
5/22/2026 11:39AM EST
MBS Alert: Down More Than an Eighth From Highs
5.0 MBS coupons are down 7 ticks (.22) from 9:30am levels. Lenders who priced before 10am are seeing at least an eighth of a point of that weakness.  Negative reprices are relatively rare in these scenarios, but they do happen on occasion. The losses correspond with push-back on this morning's war-related headlines. In not so many words, the push-back says that diplomatic visits to Tehran are either not real or simply not a sign of an imminent deal.   READ MORE
MBS Morning:
Abbreviated Friday Opening at Week's Best Levels
MBS Morning:
Bonds Turn Red Overnight on War Headlines
Today's Mortgage Rates
30YR Fixed
6.65%
+0.00% 
15YR Fixed
6.23%
+0.01% 
5/22/2026
Mortgage Rates End Week Roughly Unchanged
Mortgage lenders rely on the bond market to generate mortgage rates . In addition to being fully closed on Monday for Memorial Day, bonds also close 3 hours earlier than normal on the preceding Friday (i.e. today). The abbreviated trading session was fairly uneventful for rates despite some back-and-forth volatility in response to diplomacy headlines surrounding Iran/US peace negotiations. The flow of news resulted in better bond market levels early in the day and a pull-b...   READ MORE
Last Week This Week Next Week
Economic Calendar
Time Event Period Actual Forecast Prior
Friday, May 22
10:00AM May Consumer Sentiment (ip) May 44.8 48.2 49.8
10:00AM May U Mich conditions May 45.8 47.9 52.5
10:00AM May Sentiment: 5y Inflation (%) May 3.9% 3.4% 3.5%
10:00AM May Sentiment: 1y Inflation (%) May 4.8% 4.5% 4.7%
10:00AM Apr CB Leading Index MoM (%) Apr 0.1% -0.2% -0.6%
11:00AM Fed Waller Speech
2:00PM Memorial Day Weekend
Monday, May 25
12:00AM Memorial Day
Mark Shay
Mortgage Advisor
Fairway Independent Mortgage Corp
M: (248) 765-8001
markshayfairwaymortgage.com
3525 Piedmont Rd. NE Bldg. 6 Suite 305
Atlanta GA 30305
License:
995724
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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.