Chris Munson
SVP and Managing Director US Sales and Operations
The Money House
P: (678) 459-2252
M: (704) 957-5053
MHOD Portal
8751 Commodity Circle Ste 17
Orlando Fl 32819

Open But Not Really Open

Friday, November 28, 2025

Open But Not Really Open

This is just a reminder that the Friday after Thanksgiving is the most useless and inconsequential trading day of the year.  In very rare cases, movement can be tied to actual events/data, but that's not the case today. We do not publish detailed commentary on this particular Friday unless something interesting is happening.  We're only publishing this to let you know we're watching and still not seeing anything interesting. 

Market Movement Recap
10:03 AM

sideways overnight and modestly weaker so far.  MBS down 2 ticks (.06) and 10yr up 1.7bps at 4.012

Latest Video Analysis

Holiday Week Volatility With Zero Consequence

MBS & Treasury Markets
UMBS 5.0 99.79 -0.07 10YR 4.014% +0.019% 11/28/2025 5:59PM EST
Stronger Data. Weaker Start For Bonds
Bonds were just slightly weaker overnight but are losing more ground in early trading.  The culprit: both of this morning's 8:30am ET economic releases.  Jobless Claims data is probably the bigger deal as it continues to show no signs of labor market distress (216k vs 225k f'cast). The other report, Durable Goods, is more stale (pre-shutdown), but was also clearly upbeat with the core cap-ex figure coming in at a robust 0.9% vs 0.2% f'cast. The resulting sell-off in...   READ MORE
MBS Morning:
10yr Flirting With 4.0%, But Not Because of Data
MBS Morning:
Bonds Inch to Best Levels in Over 3 Weeks
Today's Mortgage Rates
30YR Fixed 6.22% +0.00% 15YR Fixed 5.78% +0.00% 11/28/2025
Mortgage Rates Unchanged Versus Wednesday
As is most often the case, the Friday after Thanksgiving added nothing interesting to mortgage rate momentum.  The average lender's top tier 30yr fixed rate is exactly where it was on Wednesday.  The underlying bond market closes early today, but will be fully open next week.  At that point, we're likely to see some volatility return for rates, depending on the results of economic reports.    READ MORE
Last Week This Week Next Week
Economic Calendar
Time Event Period Actual Forecast Prior
Friday, Nov 28
2:00PM Day After Thanksgiving
Monday, Dec 01
9:45AM Nov S&P Global Manuf. PMI Nov 51.9 52.5
10:00AM Sep Construction spending (%) Sep -0.1% 0.2%
10:00AM Nov ISM Manufacturing Employment Nov 46.0
10:00AM Nov ISM Mfg Prices Paid Nov 58.0
10:00AM Oct Construction spending (%) Oct
10:00AM Nov ISM Manufacturing PMI Nov 48.6 48.7
8:00PM Fed Chair Powell Speech
Recent Housing News
Read My Latest Newsletter
Jobs Report and Stock Losses Help Rates Hold The Range
11/21/2025 2:40PM
This week marked the return of delayed economic data from the government shutdown. Specifically, we received the important jobs report that was set to come out in early October. While this is September's data, and thus a bit stale, it was nonetheless responsible for the biggest volume spike in the bond market since the last Fed meeting. Such is the power of the jobs report relative to other econom... READ MORE
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-  Advanced Loan Comparison
-  Early Payoff
-  Should I Refinance?
-  Rent vs. Buy
-  Blended Rate
Chris Munson
SVP and Managing Director US Sales and Operations
The Money House
P: (678) 459-2252
M: (704) 957-5053
MHOD Portal
8751 Commodity Circle Ste 17
Orlando Fl 32819
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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.