Relatively Drama-Free Day

Relatively Drama-Free Day

These things happen from time to time. The bond market finally had an uneventful day... sorta. This may seem like a fairly odd claim for any day where yields hit the highest levels in well over a year but those were intraday highs, and they weren't much higher than yesterday's highs. During domestic hours, 10s were mostly in a 2bp range. Additionally, there were no standout market movers for better or worse. This easily meets the definition of uneventful even if it says nothing about the volatility risks over the next 2 days. 

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Relatively Drama-Free Day

MBS & Treasury Markets
UMBS 5.5
98.63
-0.03 
10YR TREASURY
4.810
+0.018 
9/1/2026 9:30PM EST
Bonds were initially a hair weaker overnight but reversed course starting around 7am ET as oil prices fell. On the other hand, oil had already begun moving lower earlier in the overnight session without a proportional response in bonds. In other words, there was some extra oomph behind the 7am move. This could be as simple as different traders being awake and tuned-in at different times of day, but could also suggest large money managers buying the dip (in both stocks an...   READ MORE
Today's Mortgage Rates
30YR Fixed
6.91%
+0.02% 
15YR Fixed
6.50%
+0.11% 
9/2/2026
First things first: when we reference average, daily, top-tier 30yr fixed rates, it is for an ideal scenario that rarely exists in the wild. The average scenario will always involve slightly higher effective rates (i.e. even if the rate is the same as national averages, it would involve additional upfront costs). As a reminder, our daily rate index accounts for upfront costs whereas Freddie Mac's weekly survey rate does not. MBA's weekly rate survey collects separate answer...   READ MORE
Economic Calendar
Time Event Period Actual Forecast Prior
Wednesday, Sep 02
7:00AM Aug/28 Mortgage Market Index Aug/28 247.3 245.3
7:00AM Aug/28 MBA Purchase Index Aug/28 157.8 154.4
7:00AM Aug/28 MBA Refi Index Aug/28 732.6 740.8
8:15AM Aug ADP jobs (k) Aug 38K 47K 44K
10:00AM Jul Factory orders mm (%) Jul 0.9% 0.6% -0.3%
10:30AM Aug/28 Crude Oil Inventory (ml) Aug/28 -4.45M -1.1M 0.095M
2:00PM Fed Beige Book
Thursday, Sep 03
5:30AM Aug Challenger layoffs (k) Aug 33.429K
8:30AM Aug/22 Continued Claims (k) Aug/22 1778K
8:30AM Q2 Unit Labour Costs QoQ Final Q2 1.3% 1.3%
8:30AM Aug/29 Jobless Claims (k) Aug/29 205K 203K
8:30AM Jul Trade Gap (bl) Jul $-90B $-73.3B
8:30AM Fed Waller Speech
9:45AM Aug S&P Global Composite PMI Aug 56.0 54.5
9:45AM Aug S&P Global Services PMI Aug 56.8 54.6
10:00AM Aug ISM Services Prices Aug 70.3
10:00AM Aug ISM Biz Activity Aug 59.1
10:00AM Aug ISM Services Employment Aug 47.4
10:00AM Aug ISM N-Mfg PMI Aug 54.3 54.1
10:00AM Aug ISM Services New Orders Aug 57.2
3:00PM Fed Hammack Speech