Brendon Garcia
Broker/Owner
Collaborative Capital
P: (805) 253-2053
https://brendongarcia.com/
Westlake Village, California
License:
NMLS# 278724
NMLS# 2385760

AM Gains Mostly Stick Around

Monday, April 20, 2026

AM Gains Mostly Stick Around

Everything interesting about today occurred before 9am ET (several war-related headlines that prompted a sharp rally in bonds). The rest of the day was spent drifting mostly sideways. Stocks continued their surge to new all-time highs. Oil prices fell in concert with the bond rally, briefly dipping below $80/bbl. 

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AM Gains Mostly Stick Around

MBS & Treasury Markets
UMBS 5.0 99.39 -0.11 10YR 4.268% +0.021% 4/20/2026 12:49AM EST
Weakest Levels Since AM Rally; MBS Down an Eighth From Highs
This alert doesn't necessarily connote any serious negative reprice risk, but it's a heads up for those who were already planning on locking today. If that describes you, there's probably no reason to wait at this point. MBS are still up 10 ticks (.31), but this is just over an eighth of a point below the AM highs.  In isolated cases, the jumpiest lenders have repriced for the worse in these situations, but it's not very likely unless we were to lose a few more ticks....   READ MORE
MBS Morning:
Why Are Bonds Surging This Morning?
Alert:
Negative Reprice Risk Increasing
Today's Mortgage Rates
30YR Fixed 6.29% -0.03% 15YR Fixed 5.91% -0.05% 4/17/2026
Lowest Rates in Over a Month Despite Small Move Today
Today was a victory for mortgage rates , but not nearly as much of a victory as the underlying bond market would suggest. The good news is that the end result is the lowest average 30yr fixed rate in just over a month.  The other news isn't bad, per se, but it is a bit confusing.  As we often discuss, mortgage rates are based on bonds because mortgages "turn into" bonds in order to be traded on the secondary market. You don't need to understand that process in ...   READ MORE
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Economic Calendar
Time Event Period Actual Forecast Prior
Monday, Apr 20
12:00AM Roll Date - Ginnie Mae 30YR
Tuesday, Apr 21
8:15AM ADP Employment Change Weekly 39K
8:30AM Mar Retail Sales (%) Mar 1.3% 0.6%
8:30AM Mar Retail Sales Control Group MoM Mar 0.5%
10:00AM Feb Business Inventories (% ) Feb 0.1% -0.1%
10:00AM Mar Pending Home Sales (%) Mar 0.5% 1.8%
10:20AM NY Fed Bill Purchases 1 to 4 months (%) $7.587 billion
2:30PM Fed Waller Speech
Recent Housing News
Read My Latest Newsletter
Mortgage Rates Didn't Fall as Much as The Market Suggested
4/17/2026 3:32PM
The good news: mortgage rates ended the week at the lowest levels in more than a month. The puzzling news: rates fell only modestly on Friday even though the bond market said they could have fallen more. Mortgage lenders consider several factors when deciding where to set mortgage rates. By far and away, the bond market is the most important of those factors. But sometimes rates don't do exa... READ MORE
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-  Rent vs. Buy
-  Blended Rate
Brendon Garcia
Broker/Owner
Collaborative Capital
P: (805) 253-2053
https://brendongarcia.com/
Westlake Village, California
License:
NMLS# 278724
NMLS# 2385760
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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.