Full Recovery!

Full Recovery!

The patient looked critical this morning with 10yr yields pushing up to new long-term highs just over 5.36%, but by the early afternoon, there was a full recovery. In fact, most of the recovery arrived after 9:30am ET (and before 11am ET). Any time 9:30am kicks off a big move, we think about things like ETF tradeflows and other money shuffling in the retail investor space. Oil prices also moved lower at that time, but not enough to justify the swings seen in the bond market. The afternoon's 10yr Treasury auction was well-received (as they often are when yields tag long-term highs). The follow-through helped complete the round trip, ultimately leaving yields about 1bp lower by 3pm ET and MBS a few bps higher.

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Full Recovery

MBS & Treasury Markets
UMBS 6.0
97.79
-0.04 
10YR TREASURY
5.350
+0.059 
10/8/2026 6:30AM EST
Demand was solid for the 10yr auction, which is typical on days with big yield spikes to long-term highs. 10s had already recovered more than half of today's losses as retail buyers flooded ETFs at 9:30am. The auction reaction got us the rest of the way there. 10yr yields now down nearly 1bp at 5.275. MBS are now unchanged on the day--a recovery of nearly half a point.    READ MORE
Today's Mortgage Rates
30YR Fixed
7.59%
+0.03% 
15YR Fixed
7.22%
+0.00% 
10/7/2026
It was an exciting day for mortgage rates , and while we technically ended up slightly higher, it could have been much worse. In fact, it WAS much worse earlier in the day, but only for about 30 minutes.  Our daily rate index can be updated throughout the day if mortgage lenders change their rates in sufficient numbers. If we reported only the day's opening rate sheets, top-tier 30yr fixed rates would have been over 7.7%. Almost immediately after those initial rates...   READ MORE
Economic Calendar
Time Event Period Actual Forecast Prior
Thursday, Oct 08
8:30AM Oct/03 Jobless Claims (k) Oct/03 197K 200K 197K
8:30AM Sep/26 Continued Claims (k) Sep/26 1,716K 1710K 1701K
9:20AM NY Fed Bill Purchases 1 to 4 months (%) $3.891 billion
1:00PM 30-Yr Bond Auction (bl) 22
1:40PM Fed Musalem Speech
Friday, Oct 09
12:00AM Roll Date - UMBS 30YR
10:00AM Oct Sentiment: 5y Inflation (%) Oct 3.4%
10:00AM Oct Consumer Sentiment (ip) Oct 47.6 48.1
10:00AM Oct U Mich conditions Oct 50.5 50.9
10:00AM Oct Sentiment: 1y Inflation (%) Oct 4.6%
12:00PM WASDE Report (%)
4:00PM Fed Collins Speech