Bonds lost ground today, largely due to mechanical, month-end trading (i.e. not due to economic data, inflation, or news headlines). When bonds lose ground, rates rise, all else equal. Mortgage rates were already fairly close to longer-term highs last week. Today's increase was just enough to nudge the average top-tier 30yr fixed rate to 6.87%--the highest since June 2025. While that sounds fairly gloomy, the average borrower wouldn't see any difference from those seen on July 23rd, 2026. [thirtyyearmortgagerates]
Surprisingly Light Selling Given The Econ Data
Surprisingly Light Selling Given The Econ Data
Today’s market reaction to the big beat in NFP (162k vs 56k) certainly stretches the paradigm of most market watchers who’ve been in the game for more than a few y…