Market Wrap-up

Our benchmark FNMA MBS 5.500 December Coupon is up +20 BPS at 3:00 PM ET.

Half Empty: The final November Consumer Sentiment Index was revised from 50.3 to 51.0. Republicans had a very nice Sentiment Level of 86.6 while Democrats had very negative Sentiment Level of just 32.4. 1 YR Inflation Expectations dropped from 4.7% to 4.5%.

The Talking Fed: Today we will hear from Barr, Jefferson and Logan. NY Fed President Williams said this morning that “I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral, thereby maintaining the balance between the achievement of our two goals.” Fed Governor Miran said he supported a rate cut as current Fed policy is still too restrictive.

Interest rates improved today with renewed optimism of another rate cut in December. NY Fed Pres. John Williams commented a rate cut should be the likely decision when the FOMC meets on December 10th. The 10 year note rate fell back to its low of the last two weeks at 4.06%, MBS prices increased.

The stock market took William’s remarks and reversed its decline overnight.

Next week’s calendar not yet finalized but here is what we have. Monday $69B 2 year auction. Tuesday Sept PPI, September retail sales, September Case/Shiller home price index, November consumer confidence index from the Conference Board, October pending home sales, $70B 5 year note auction. Wednesday MBA mortgage applications, weekly jobless claims, September durable goods orders, $44B 7 year note auction, Oct new home sales, Nov Chicago purchasing managers index. Thursday Thanksgiving. Nothing on Friday.

This Week: The 10 year note declined 8 bps, the 2 year note down 10 bps. FNMA 5,50 30 year coupon price increased 25 bps. The DJIA this week -902, NASDAQ -628, S&P -131. Gold -$33.00, crude oil -$1.76. Bitcoin lost 10,078, the dollar index inched higher +0.91.

PRICES @ 4:00 PM

10 year note: 4.07% -3 bp

5 year note: 3.62% -4 bp

2 year note: 3.52% -3 bp

30 year bond: 4.72% unch

30 year FNMA 5.5: 101.03 +17 bp (+6 bp from 9:30)

30 year FNMA 6.0: 102.24 +9 bp (+6 bp from 9:30)

30 year GNMA 5.5: 100.89 +19 bp (+7 bp from 9:30)

Dollar/Yen: 156.42 -1.03 yen

Dollar/Euro: $1.1513 -$0.0015

Dollar Index: 100.19 +0.04

Gold: $4,058.60 -$1.40

Bitcoin: 84,509 -1828 (lost 25% of its “value” this month, worst month since 2022)

Crude Oil: $57.99 -$1.01

DJIA: 46,245.41 +493.15

NASDAQ: 22,273.08 +195.03

S&P 500: 6602.99 +64.32

SOFR Data 11/21: 30-DAY AVERAGE(%): 4.07180, 90-DAY AVERAGE(%): 4.21995, 180-DAY AVERAGE(%): 4.30882, INDEX: 1.22122575

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	2,921.08	36.94	1.25%	0.31	34.12%	11:15 AM
WIG:IND WSE WIG INDEX	108,943.00	1,426.10	1.29%	0.52	37.87%	11:15 AM

 

WALUTY

Currency, not sorted	Value, not sorted	Change, not sorted	Net Change, not sorted	Time (EDT), not sorted
EUR-USD	1.1513	0.00	0.13%	4:59 PM
USD-JPY	156.4100	1.06	0.67%	4:59 PM
GBP-USD	1.3099	0.00	0.20%	4:59 PM
AUD-USD	0.6455	0.00	0.23%	4:59 PM
USD-CAD	1.4101	0.00	0.04%	4:59 PM
USD-CHF	0.8083	0.00	0.31%	4:59 PM

 

USD-MXN

18.4788

0.09

0.51%

4:59 PM

 

USD-CZK	21.0084	0.02	0.07%	4:59 PM
USD-SKK	26.1663	0.03	0.13%	4:59 PM
USD-PLN	3.6838	0.01	0.23%	4:59 PM
USD-HUF	333.0500	1.41	0.43%	4:59 PM
USD-RUB	79.0663	0.94	1.18%	4:57 P

 

POŻYCZKI HIPOTECZNE

ELITE 21-30 YEAR
RATE	15 DAY	30 DAY	45 DAY
7.500	-4.151	-4.061	-3.931
7.375	-3.712	-3.622	-3.492
7.250	-3.252	-3.162	-3.032
7.125	-3.234	-3.144	-3.014
6.999	-3.041	-2.951	-2.821
6.875	-2.581	-2.491	-2.361
6.750	-2.054	-1.964	-1.834
6.625	-2.585	-2.495	-2.365
6.500	-2.216	-2.126	-1.996
6.375	-1.632	-1.542	-1.412
6.250	-1.008	-0.918	-0.788
6.125	-1.496	-1.406	-1.276
5.999	-1.069	-0.979	-0.849
5.875	-0.454	-0.364	-0.234
5.750	0.286	0.376	0.506
5.625	-0.035	0.055	0.185
5.500	0.490	0.580	0.710
5.375	1.304	1.394	1.524
5.250	2.153	2.243	2.373

 

ELITE 11-15 YEAR
RATE	15 DAY	30 DAY	45 DAY
6.500	-3.496	-3.406	-3.276
6.375	-3.225	-3.135	-3.005
6.250	-2.727	-2.637	-2.507
6.125	-2.552	-2.462	-2.332
6.000	-2.296	-2.206	-2.076
5.875	-2.005	-1.915	-1.785
5.750	-1.518	-1.428	-1.298
5.625	-1.509	-1.419	-1.289
5.500	-1.240	-1.150	-1.020
5.375	-0.896	-0.806	-0.676
5.250	-0.377	-0.287	-0.157
5.125	-0.290	-0.200	-0.070
5.000	0.083	0.173	0.303
4.875	0.473	0.563	0.693
4.750	1.002	1.092	1.222
4.625	0.972	1.062	1.192
4.500	1.377	1.467	1.597
4.375	1.787	1.877	2.007
4.250	2.351	2.441	2.571

 

 

30 Yr. Fixed 6.34% -0.02% 6.13% 7.26%     15 Yr. Fixed 5.82% -0.03% 5.6% 6.59%     30 Yr. Jumbo 6.42% -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 6.34% -0.02 0.00 15 Yr. Fixed 5.82% -0.03 0.00 30 Yr. FHA 5.94% -0.04 0.00 30 Yr. Jumbo 6.42% -0.01 0.00 7/6 SOFR ARM 5.92% -0.13 0.00 30 Yr. VA 5.95% -0.04 0.00 Updates Daily – Last Update: 11/21       Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% +0.02 0.00 15 Yr. Fixed 5.54% +0.05 0.00 Updates Weekly – Last Update: 11/20   Mortgage Bankers Assoc. 30 Yr. Fixed 6.37% +0.03 0.62 15 Yr. Fixed 5.83% +0.13 0.69 30 Yr. Jumbo 6.39% -0.07 0.42 Updates Weekly – Last Update: 11/19

 

UMBS 30YR 5.0 99.50 +0.17 95.05 100.11     UMBS 30YR 5.5 101.02 +0.13 97.47 101.40     10 YR Treasury 4.064 -0.020 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 97.55 +0.26 UMBS 5.0 99.50 +0.17 UMBS 5.5 101.02 +0.13 GNMA 4.5 97.36 +0.12 GNMA 5.0 99.68 +0.20 GNMA 5.5 100.88 +0.12 Pricing as of: 11/21 6:55PM EST       US Treasury Yield Change 2 YR Treasury 3.510 -0.026 5 YR Treasury 3.619 -0.031 7 YR Treasury 3.814 -0.028 10 YR Treasury 4.064 -0.020 30 YR Treasury 4.712 -0.013 Pricing as of: 11/21 6:55PM EST

 

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