Market Summary Report

JIM OFFUTT

Originator

CMIC

P: 703-522-2200 Ext 210

M: 703-447-5821

1005 No. Glebe Road, #100
Arlington VA 22201

License:

1077426

To Whammie or Not to Whammie, That is Our Friday (And Weekend)

Friday, June 12, 2026

To Whammie or Not to Whammie, That is Our Friday (And Weekend)

Bonds were sideways at first in the overnight session. Then they improved moderately after newswires from Iran's Mehr news agency detailing some specifics of the peace deal, including the U.S. withdrawing forces from the area. Bonds then began selling as various push-back headlines popped up. Deal not completely confirmed. No location determined. Deal still under review. No signing day confirmed. etc...

With nothing meaty on the calendar and no final signing even rumored to be in the cards until next week, we'll at least the next 3 days waiting for any legitimate rejection of the peace deal claims. So far, Iran's responses have fallen short of previous rejections. Therefore, the market is pretty sure we're close, and most of yesterday's gains are intact.

Latest Video Analysis

Big Rally After Peace Deal News

MBS & Treasury Markets

UMBS 5.0

98.05

-0.08

10YR TREASURY

4.486

+0.018

6/12/2026 12:09PM EST

MBS Update: Bouncing Back on MOU Back-And-Forth

From Iran Foreign Minister Araghchi: The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content. In line with our responsible and transparent approach, all details will be shared with the public in due course. Bounds bouncing back on that. 10yr nearly unchanged and MBS now down only 3 ticks (.09) on the day vs a quarter point before the news. READ MORE

Alert:

Weakest Levels

MBS Morning:

To Whammie or Not to Whammie, That is Our Friday (And Weekend)

Today's Mortgage Rates

30YR Fixed

6.58%

-0.02%

15YR Fixed

6.14%

-0.01%

6/12/2026

Rates Drop Sharply to One Week Lows

Mortgage rates began the day in uneventful fashion with the average lender right in line with yesterday's latest levels. Things might have gotten off to a slightly better start, but higher inflation in this morning's econ data and discouraging war-related headlines put upward pressure on bond yields (yields and rates are technically the same thing and they move in the same direction). The bulk of the day remained uneventful but that changed abruptly at 1:30pm when news cir... READ MORE

Last Week This Week Next Week

Economic Calendar

Time	Event	Period	Actual	Forecast	Prior
Friday, Jun 12
10:00AM	Jun Sentiment: 1y Inflation (%)	Jun	4.6%		4.8%
10:00AM	Jun U Mich conditions	Jun	48.4	46.2	45.8
10:00AM	Jun Sentiment: 5y Inflation (%)	Jun	3.4%		3.9%
10:00AM	Jun Consumer Sentiment (ip)	Jun	48.9	46	44.8
Monday, Jun 15
12:00AM	Roll Date - UMBS 15YR, Ginnie Mae 15YR
8:30AM	Jun NY Fed Manufacturing	Jun			19.60
9:15AM	May Industrial Production (%)	May		0.2%	0.7%
10:00AM	Jun NAHB housing market indx	Jun		37	37
12:00PM	NOPA Crush Report (%)

JIM OFFUTT

Originator

CMIC

P: 703-522-2200 Ext 210

M: 703-447-5821

1005 No. Glebe Road, #100
Arlington VA 22201

License:

1077426

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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.