Market Wrap-up

Our benchmark FNMA MBS 5.500 December Coupon is down just -3 BPS at 3:00 PM ET.

There were no domestic economic releases today.

The Talking Fed: A Fed Divided. Kansas City Fed President Jeff Schmid warned that additional rate cuts could entrench higher inflation more than they help the labor market. “Cuts could have longer-lasting effects on inflation as our commitment to our 2% objective increasingly comes into question.” He voted against the last rate cut.

This week the idea about a rate cut next month faded as the FOMC meeting nears and actual economic data is set to be released, likely next week. Within the Fed there is little consensus over whether to cut the FF rate three weeks from now. Today Federal Reserve Bank of Minneapolis President Neel Kashkari said he didn’t support the US central bank’s last interest-rate cut, though he’s still undecided on the best course of action for its December policy meeting. Three weeks is a lifetime in the bond market and with more money managers fretting over the valuations of tech and AI stocks the next couple of weeks are likely to experience higher levels of volatility.

For six weeks the actual condition of employment and inflation have been guesses (estimates) that have a history of not aligning with reality; the monthly employment report usually is accompanied with volatility, why believe this time when the report(s) are released that it won’t set off volatility in either direction for interest rates and the stock market?

Normally on the 4 pm Report we go over the economic calendar for the next week. We will skip it this week with the potential of old data possibly hitting. We will see housing starts and permits, existing home sales, NAHB Nov housing market index, and the final November University of Michigan consumer sentiment. There should be more accurate reports of releases on Monday morning.

This Week: The 10 year note yield increased 6 bps, the 2 year note also +6 bps. FNMA 5.5 30 year coupon declined 27 bps this week. The DJIA this week +160, NASDAQ -104, S&P +5. Gold +$85.00, crude oil +$0.20. Bitcoin fell 8,218, the dollar index -0.27.

PRICES @ 4:00 PM

10 year note: 4.15% +3 bp

5 year note: 3.73% +2 bp

2 year note: 3.62% +2 bp

30 year bond: 4.75% +5 bp

30 year FNMA 5.5: 100.78 -3 bp (-10 bp from 9:30)

30 year FNMA 6.0: 102.11 +1 bp (-3 bp from 9:30)

30 year GNMA 5.5: 100.70 unch (-4 bp from 9:30)

Dollar/Yen: 154.53 +0.02 yen

Dollar/Euro: $1.1622 -$0.0011

Dollar Index: 99.28 +0.12

Gold: $4,092.20 -$102.30

Bitcoin: 94,587 -3489

Crude Oil: $59.95 +$1.26

DJIA: 47,147.48 -309.74

NASDAQ: 22,900.59 +30.23

S&P 500: 6734.11 -3.38

SOFR Data 11/14: 30-DAY AVERAGE(%): 4.13567, 90-DAY AVERAGE(%): 4.25105, 180-DAY AVERAGE(%): 4.32181, INDEX: 1.22028960

 Poland

Name, not sorted	Value, not sorted	Change, not sorted	% Change, not sorted	1 Month, not sorted	1 Year, not sorted	Time (EDT), not sorted
WIG20:IND WIG 20	2,990.37	25.79	0.86%	5.14	33.03%	11:15 AM
WIG:IND WSE WIG INDEX	111,687.25	845.23	0.75%	4.72	37.89%	11:15 AM

 

WALUTY

Currency, not sorted	Value, not sorted	Change, not sorted	Net Change, not sorted	Time (EDT), not sorted
EUR-USD	1.1619	0.00	0.12%	4:57 PM
USD-JPY	154.5300	0.03	0.02%	4:56 PM
GBP-USD	1.3172	0.00	0.17%	4:56 PM
AUD-USD	0.6536	0.00	0.11%	4:57 PM
USD-CAD	1.4026	0.00	0.07%	4:57 PM
USD-CHF	0.7943	0.00	0.18%	4:56 PM
USD-MXN	18.3122	0.00	0.02%	5:57 PM

 

USD-CZK	20.8271	0.05	0.22%	4:59 PM
USD-SKK	25.9240	0.03	0.11%	4:59 PM
USD-PLN	3.6379	0.00	0.02%	4:59 PM
USD-HUF	330.7700	0.49	0.15%	4:59 PM
USD-RUB	80.8500	0.20	0.25%	4:57 PM

 

POŻYCZKI HIPOTECZNE

 

ELITE 21-30 YEAR
RATE	15 DAY	30 DAY	45 DAY
7.500	-4.080	-3.990	-3.860
7.375	-3.643	-3.553	-3.423
7.250	-3.186	-3.096	-2.966
7.125	-3.094	-3.004	-2.874
6.999	-2.917	-2.827	-2.697
6.875	-2.480	-2.390	-2.260
6.750	-1.946	-1.856	-1.726
6.625	-2.400	-2.310	-2.180
6.500	-2.046	-1.956	-1.826
6.375	-1.475	-1.385	-1.255
6.250	-0.844	-0.754	-0.624
6.125	-1.277	-1.187	-1.057
5.999	-0.846	-0.756	-0.626
5.875	-0.221	-0.131	-0.001
5.750	0.501	0.591	0.721
5.625	0.280	0.370	0.500
5.500	0.790	0.880	1.010
5.375	1.598	1.688	1.818
5.250	2.448	2.538	2.668

 

ELITE 11-15 YEAR
RATE	15 DAY	30 DAY	45 DAY
6.625	-3.638	-3.548	-3.418
6.500	-3.479	-3.389	-3.259
6.375	-3.209	-3.119	-2.989
6.250	-2.708	-2.618	-2.488
6.125	-2.436	-2.346	-2.216
6.000	-2.192	-2.102	-1.972
5.875	-1.915	-1.825	-1.695
5.750	-1.427	-1.337	-1.207
5.625	-1.356	-1.266	-1.136
5.500	-1.100	-1.010	-0.880
5.375	-0.769	-0.679	-0.549
5.250	-0.249	-0.159	-0.029
5.125	-0.046	0.044	0.174
5.000	0.325	0.415	0.545
4.875	0.703	0.793	0.923
4.750	1.232	1.322	1.452
4.625	1.257	1.347	1.477
4.500	1.657	1.747	1.877
4.375	2.064	2.154	2.284

 

30 Yr. Fixed 6.38% +0.04% 6.13% 7.26% 15 Yr. Fixed 5.86% +0.03% 5.6% 6.59% 30 Yr. Jumbo 6.43% +0.01% 6.1% 7.45%

Compare Mortgage Rates from Local Lenders for Nov 14, 2025

Rates Rise on Friday, Now Near 2-Month Highs Fri, Nov 14, 2025 4:10PM Mortgage rates were only modestly higher on Friday, but because of the narrow prevailing range and previous increases this week, that brings us right in line with 2-month highs. Bonds (which dictate rates) began the day with promise. There was heavy buying (good for rates) in the 7am hour. This coincided with stocks challenging their lowest levels in weeks.  But both stocks and bonds bounced back in the 9am hour. Bonds ultimately erased all of the morning’s gains and, thus, the hope for today’s mortgage rates to be lower than yesterday’s.  (read more)

Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.38% +0.04 0.00 15 Yr. Fixed 5.86% +0.03 0.00 30 Yr. FHA 6.02% -0.01 0.00 30 Yr. Jumbo 6.43% +0.01 0.00 7/6 SOFR ARM 6.05% -0.02 0.00 30 Yr. VA 6.04% -0.01 0.00 Updates Daily – Last Update: 11/14   Freddie Mac Rate Change Points 30 Yr. Fixed 6.24% +0.02 0.00 15 Yr. Fixed 5.49% -0.01 0.00 Updates Weekly – Last Update: 11/13   Mortgage Bankers Assoc. 30 Yr. Fixed 6.34% +0.03 0.62 15 Yr. Fixed 5.70% +0.05 0.64 30 Yr. Jumbo 6.46% +0.03 0.38 Updates Weekly – Last Update: 11/12

UMBS 30YR 5.0 99.20 -0.03 95.05 100.11 UMBS 30YR 5.5 100.80 +0.00 97.47 101.40 10 YR Treasury 4.149 +0.034 3.932 4.780

Stronger Start After 7am Magical Mystery Move Fri, Nov 14, 2025 9:24AM Bonds were sideways to slightly weaker in the overnight session.  4am to 7am was exceptionally flat and narrow. This is notable because stocks had done more than half of their overnight selling by 7am, and stocks are one of the only scapegoats. In other words, a “flight to safety” (sell stocks/buy bonds) seems to be the only popular explanation, and it’… (read more)

MBS Price Change UMBS 4.5 97.12 -0.04 UMBS 5.0 99.20 -0.03 UMBS 5.5 100.80 +0.00 GNMA 4.5 97.16 -0.15 GNMA 5.0 99.58 +0.01 GNMA 5.5 100.77 +0.05 Pricing as of: 11/14 4:31PM EST   US Treasury Yield Change 2 YR Treasury 3.616 +0.027 5 YR Treasury 3.736 +0.033 7 YR Treasury 3.921 +0.032 10 YR Treasury 4.149 +0.034 30 YR Treasury 4.747 +0.037 Pricing as of: 11/14 4:31PM EST