**WTMS Blog Today = What’s up in Mortgage Today (AM) – 08/11/2025**
The bond market is experiencing mixed signals this morning as traders digest the latest economic data and Federal Reserve commentary. Mortgage-backed securities (MBS) are showing cautious movement while the 10-year Treasury yield remains elevated above key technical levels. UMBS pricing appears to be consolidating after recent volatility, with investors awaiting clearer direction from upcoming inflation data. Treasury markets are reflecting ongoing uncertainty about the Fed’s next policy moves, particularly regarding interest rate adjustments in the coming months. The 10-year note is holding near recent highs, creating headwinds for mortgage rate improvements. Market participants are closely watching for any shifts in monetary policy messaging that could impact long-term bond pricing. GNMA securities are tracking alongside conventional MBS products, though with their typical government backing premium intact.
Secondary market activity in government-backed mortgage securities remains steady, providing some stability in an otherwise choppy trading environment. Origination volumes continue to face pressure from elevated rate levels across all product types. The mortgage origination landscape is adapting to persistent rate volatility, with lenders adjusting pricing strategies throughout trading sessions. Purchase activity remains the primary driver of volume as refinance opportunities continue to be limited by current rate levels. Industry professionals are focusing on operational efficiency and customer service excellence to maintain profitability in this challenging rate environment. Ready to stay ahead of daily mortgage market movements? Subscribe to receive this essential market intelligence in your inbox every morning – completely free and designed to keep mortgage professionals informed and prepared for each trading day.
