“Damn, there is so much great knowledge out there. Did you know that “BOOKS” are full of smart?? No, I mean like life changing, I-wish-I-knew-that-years-ago type stuff.

I know that I was waaaayyy late to the game figuring it out. And I know that a lot of you are too busy to read as much as you ‘should’. And that is why you need me.

I still remember how it started for me. It started in June of 2008. After 11 years …..Click to continue

What's up in Mortgage Today (PM) - 11/14/2025

Week In Review
November 14, 2025

WTMS Blog Today = What's up in Mortgage Today (PM) - 11/14/2025 Mortgage securities staged a mysterious rally at 7am this morning before surrendering most gains by noon. UMBS 5.0 coupons jumped 16 basis points early, only to give back 10 basis points as stock markets opened. This dramatic reversal left lenders who issued early rate sheets potentially considering afternoon reprices. The morning's movement defied easy explanation, with bonds rallying despite only modest stock weakness overnight. Treasury yields dropped as much as 5 basis points on the 10-year before climbing back toward unchanged levels. Market analysts called it a "magical mystery move" with no clear catalyst beyond potential flight-to-safety buying. Federal Reserve officials continue signaling caution on December rate cuts, with three hawkish members scheduled to speak today. Kansas City Fed President Schmid, Dallas Fed President Logan, and Atlanta Fed President Bostic are expected to reinforce the message that more economic data is needed before additional easing. This Fed pushback has traders slashing December rate cut odds to below 50%. The Trump administration faces mounting pressure over alleged price-fixing between Fannie Mae and Freddie Mac. Reports indicate that FHFA Director Bill Pulte's confidant shared confidential pricing data between the GSEs, potentially exposing both companies to collusion claims. Industry observers are questioning the integrity of the housing finance system if no consequences follow. Rice Park Capital Management acquired Charlotte-based Rosegate Mortgage to expand its mortgage servicing rights recapture strategy. The deal allows Rice Park to selectively pursue recapture across its $61 billion MSR portfolio while maintaining relationships with third-party originators. This reflects the ongoing consolidation in mortgage servicing as investors seek vertical integration opportunities. Locking vs Floating Government shutdown disruptions continue limiting major economic data releases, keeping bond market momentum subdued. Agencies are unlikely to release key reports without advance notice, reducing overnight volatility risk but maintaining moderate intraday swings. Current conditions favor waiting for clearer directional signals before making long-term rate commitments, though borrowers closing within two weeks should consider locking given potential Fed uncertainty. Today's Events - ADP Weekly Payrolls: -11k (Tuesday, 11/11) - Fed Speakers: Bostic, Logan, Schmid Bond Pricing UMBS 30 yr | Coupon | Price | Intra-Day Change | | 5.0 | 99.26 | 0.03 | | 5.5 | 100.83 | 0.03 | | 6.0 | 102.13 | 0 | GNMA 30 yr | Coupon | Price | Intra-Day Change | | 5.0 | 99.6 | 0.02 | | 5.5 | 100.7 | -0.02 | | 6.0 | 101.58 | -0.01 | Treasuries | Term | Yield | Price | Intra-Day Yield Change | | 2 yr | 3.591 | 99.826 | 0.002 | | 3 yr | 3.586 | 99.757 | -0.003 | | 5 yr | 3.7 | 99.659 | -0.003 | | 7 yr | 3.889 | 99.155 | 0 | | 10 yr | 4.12 | 99.023 | 0.005 | | 30 yr | 4.728 | 98.358 | 0.018 |

What's up in Mortgage Today (AM) - 11/14/2025

Money
November 14, 2025

WTMS Blog Today = What's up in Mortgage Today (AM) - 11/14/2025 Markets delivered a mysterious rally at 7am this morning after an otherwise flat overnight session. MBS gained 16 basis points and the 10-year Treasury dropped 26 basis points before the stock market opened. Most analysts can't explain the sudden move, though some point to UK bond reversals as a possible trigger. The rally was short-lived as gains evaporated after the NYSE opening bell. By 10am, MBS had given up most of their morning strength, falling 6 ticks from the highs. This pattern suggests the early rally was more about technical factors than fundamental economic news. Federal Reserve officials continue sending mixed signals about December rate cuts. Three Fed speakers today include voting member Jeffrey Schmid, the only dissenter in October's meeting. The market has slashed December cut odds below 50% after a string of hawkish comments this week. Stock market weakness dominated headlines as the Nasdaq fell over 1.2% in futures trading. Tech stocks led the selloff with Bitcoin dropping to six-month lows. When stocks fall sharply, mortgage bonds typically benefit from flight-to-safety flows, but today's correlation broke down. A major controversy erupted in mortgage finance as reports suggest Bill Pulte's confidant shared Fannie Mae pricing data with Freddie Mac. Senior officials warned this could expose both GSEs to price-fixing allegations. The scandal raises serious questions about leadership accountability in the housing finance system. Locking vs Floating Government reopening brought modest bond market weakness as expected. Bigger economic data releases will drive more serious momentum, but we're still waiting for updated schedules from affected agencies. MBS help with intraday risk management while 10-year yield levels provide bigger picture trend guidance. Today's Events - ADP Weekly Payrolls (Tuesday, 11/11): -11k Bond Pricing UMBS 30 yr | Coupon | Price | Intra-Day Change | | 5.0 | 99.26 | 0.03 | | 5.5 | 100.83 | 0.03 | | 6.0 | 102.13 | 0 | GNMA 30 yr | Coupon | Price | Intra-Day Change | | 5.0 | 99.6 | 0.02 | | 5.5 | 100.7 | -0.02 | | 6.0 | 101.58 | -0.01 | Treasuries | Term | Yield | Price | Intra-Day Yield Change | | 2 yr | 3.591 | 99.826 | 0.002 | | 3 yr | 3.586 | 99.757 | -0.003 | | 5 yr | 3.7 | 99.659 | -0.003 | | 7 yr | 3.889 | 99.155 | 0 | | 10 yr | 4.12 | 99.023 | 0.005 | | 30 yr | 4.728 | 98.358 | 0.018 |

What's up in Mortgage Today (PM) - 11/13/2025

Week In Review
November 13, 2025

RECENT ARTICLES

What’s up in Mortgage Today (PM) – 11/14/2025

admin2025-11-14T16:19:00-07:00November 14th, 2025|Week In Review|

WTMS Blog Today = What's up in Mortgage Today (PM) - 11/14/2025 Mortgage securities staged a mysterious rally at 7am this morning before surrendering most gains by noon. UMBS 5.0 coupons jumped 16 basis points [...]

What’s up in Mortgage Today (AM) – 11/14/2025

admin2025-11-14T08:32:53-07:00November 14th, 2025|Money|

WTMS Blog Today = What's up in Mortgage Today (AM) - 11/14/2025 Markets delivered a mysterious rally at 7am this morning after an otherwise flat overnight session. MBS gained 16 basis points and the 10-year [...]

What’s up in Mortgage Today (PM) – 11/13/2025

admin2025-11-13T15:59:11-07:00November 13th, 2025|Week In Review|

WTMS Blog Today = What's up in Mortgage Today (PM) - 11/13/2025 Don't get excited about the government shutdown ending - that was already priced into markets by mid-November. MBS securities are showing weakness today [...]

Article Archive

50 yr Mortgage – Makes Sense as long as you don’t think about it

admin2025-11-13T13:05:58-07:00November 13th, 2025|0 Comments

Ok, so we are talking about 50 yr mortgages?! There is a great Thomas Sowell quote: "In this world there are no solutions, only trade-offs." So let's look at it from that perspective. [...]

What’s up in Mortgage Today (AM) – 11/13/2025

admin2025-11-13T08:57:16-07:00November 13th, 2025|0 Comments

WTMS Blog Today = What's up in Mortgage Today (AM) - 11/13/2025 The government shutdown is finally over, but don't celebrate just yet. Markets are treating the reopening with a shrug since everyone saw this [...]

What’s up in Mortgage Today (PM) – 11/12/2025

admin2025-11-12T17:07:34-07:00November 12th, 2025|0 Comments

WTMS Blog Today = What's up in Mortgage Today (PM) - 11/12/2025 ADP's weekly employment report shocked markets this morning, showing an 11,000 job loss average in October. This new data source has quickly become [...]

What’s up in Mortgage Today (AM) – 11/12/2025

admin2025-11-12T09:51:31-07:00November 12th, 2025|0 Comments

WTMS Blog Today = What's up in Mortgage Today (AM) - 11/12/2025 Bonds opened stronger this morning, riding exclusively on yesterday's ADP weekly jobs data showing 11,000 job losses. ADP has been publishing monthly payroll [...]

What’s up in Mortgage Today (AM) – 11/11/2025

admin2025-11-11T09:04:28-07:00November 11th, 2025|0 Comments

WTMS Blog Today = What's up in Mortgage Today (AM) - 11/11/2025 Government shutdown optimism drove Treasury yields higher overnight as investors anticipate Senate action this week. UMBS 30-year securities fell across all coupons, with [...]

What’s up in Mortgage Today (PM) – 11/10/2025

admin2025-11-10T16:35:45-07:00November 10th, 2025|0 Comments

WTMS Blog Today = What's up in Mortgage Today (PM) - 11/10/2025 Mortgage bonds are under pressure today as optimism about resolving the government shutdown drives investors toward riskier assets. UMBS 5.0 coupons dropped 16 [...]

What’s up in Mortgage Today (AM) – 11/07/2025

admin2025-11-07T10:02:46-07:00November 7th, 2025|0 Comments

WTMS Blog Today = What's up in Mortgage Today (AM) - 11/07/2025 Bond markets opened with modest strength this morning as traders awaited University of Michigan consumer sentiment data. The 30-year UMBS 5.0 coupon traded [...]

What’s up in Mortgage Today (PM) – 11/06/2025

admin2025-11-06T16:22:13-07:00November 6th, 2025|0 Comments

WTMS Blog Today = What's up in Mortgage Today (PM) - 11/06/2025 Bond markets delivered a much-needed rally this afternoon after challenging economic data painted a mixed picture. UMBS securities gained approximately 27 ticks on [...]

Subscribe

Send me some brain food

Subscribe

We will Put More Awesome Stuff In Your Brain

RECENT ARTICLES

Article Archive

Subscribe

We will Put More Awesome Stuff
In Your Brain