Market Wrap-up

Our benchmark FNMA MBS 5.500 June Coupon is up +32 BPS at 2:45 PM ET

Taking it to the House: April Building Permits increased to 1.442M from 1.363M but Housing Starts decreased to 1.464M down from 1.507M.

Rosie the Riveter: May Philly Fed Manufacturing reversed course and dropped from 26.7 down to -0.4 but Prices Paid also fell down to 47.9 from 59.3.

Jobs, Jobs, Jobs: Initial Weekly Claims were 209K versus estimates of 210K, the more closely watched 4 week moving average dropped to 202.5K. Continuing Claims moved upward to 1.782M but remained below the important 1.8M level.

Another day with optimistic reports to resolve the nearly three-month old war between the U.S. and Iran. It has become a daily circle jerk, every day either Trump or news agencies make bold comments but after over a month of “negotiations” nothing has happened. Iran or Trump will have to capitulate, neither believes they won’t succeed. For over 25 years Iran has successfully dominated the US in any negotiations, it sees little reason to back down now. Trump talks tough but like Biden and Obama he is failing to nail down the coffin.

The news today; A final decision has been made by Iran’s Supreme Leader Mojtaba Khamenei not to hand over Iran’s highly enriched uranium stockpile to Washington. Al Arabiya reported citing a high-level source. “The Iran conflict will end very soon,”. Reports that the final draft of a U.S.-Iran agreement has been agreed on with the mediation of Pakistan and will be announced “in the next few hours,” according to Saudi Arabian news channel Al Arabiya, citing a source familiar with the matter. The president said in the Oval Office this afternoon, “And when it ends, gasoline prices will go down lower than they were before.”

Meanwhile interest rates have spiked on increasing belief the Fed may increase rates, and inflation is now growing as oil prices now engaging the economy. The dollar continues to increase hurting Japan and Europe; global debt sent the 30 year bond yield to a 19 year high on Tuesday. Reports that the final draft of a U.S.-Iran agreement has been agreed on with the mediation of Pakistan and will be announced “in the next few hours,” according to Saudi Arabian news channel Al Arabiya, citing a source familiar with the matter.

Crude started $4.00 higher this morning and now down about a dollar on hopes the Strait will be open and Trump will TACO on military force.

Glass Half Empty: The final UofM May Consumer Sentiment Index will hit at 10 am ET. The preliminary number was a dismal 48.2 and the 12 month inflation expectations were 4.5%.

The Talking Fed: We will hear from Gov Waller today and Fed Chair Warsh will be officially sworn in at 11 pm.

Not much movement today in the interest rate sector. Stock indexes improved, the DJIA making a new all-time high.

The May consumer sentiment index released this morning continued to weaken to new lows on high oil prices and the continued unrest over the Iran war.

Nothing new with Iran, both sides continue to stall with each side unwilling and afraid of the results if the US reignites military action. It worked for Iran with Obama and Biden, wearing them down until they just picked their marbles and went home. Will it work with Trump? I’m beginning to think it will. Trump cancelled going to his son’s wedding this weekend in the Bahamas, Donald Jr. TMZ reported today that Trump Jr. and Anderson had legally married on Thursday in West Palm Beach, Fla.

Next week; Monday Memorial Day. Tuesday March Case/Shiller home price index, May consumer confidence from the Conference Board. Wednesday MBA apps. Thursday April personal income and spending, April PCE inflation, Q1 second look GDP, April durable goods orders, weekly jobless claims. Friday May Chicago purchasing mgrs. index.

This Week: 10 year note -4 bps, the 2 year note +4 bp, FNMA 6.0 30 year coupon +6 bps, the 5.5 coupon +17 bps. The DJIA this week +1,054 , NASDAQ +119, S&P +64. Crude oil dropped $8.77 this week, Gold -$49.00. The dollar index unchanged this week, bitcoin -3,334.

 

PRICES @ 4:00 PM

10 year note: 4.56% -1 bp

5 year note: 4.26% +1 bp

2 year note: 4.13% +4 bp

30 year bond: 5.07% -2 bp

30 year FNMA 6.0: 101.61 bp +1 bp (-8 bp from 9:30)

30 year FNMA 5.5: 99.82 unch (-14 bp from 9:30)

30 year GNMA 6.0: 101.59 +1 bp (-1 bp from 9:30)

Dollar/Yen: 159.16 +0.17 yen

Dollar/Euro: $1.1607 -$0.0012

Dollar Index: 99.27 +0.01

Gold: $4,510.10 -$32.40

Bitcoin: 75,747 -1863

Crude Oil: $96.70 +$0.37

DJIA: 50,579.70 +294.04

NASDAQ: 26,343.97 +50.87

S&P 500: 7473.47 +27.25

SOFR Data 05/22: 30-DAY AVERAGE(%): 3.60809, 90-DAY AVERAGE(%): 3.64920, 180-DAY AVERAGE(%): 3.72053, INDEX: 1.24421537

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	3,590.00	20.70	0.57%	1.37	30.03%	11:15 AM
WIG:IND WSE WIG INDEX	133,337.31	347.57	0.26%	0.11	31.28%	11:15 AM
WIG30:IND WIG30	4,557.06	17.98	0.39%	1.16	27.54%	11:15 AM

 

WALUTY

Currency, not sorted	Value, not sorted	Change, not sorted	Net Change, not sorted	Time (EDT), not sorted
EUR-USD	1.1622	0.00	0.03%	5:36 PM
USD-JPY	158.9600	0.02	0.01%	5:35 PM
GBP-USD	1.3432	0.00	0.01%	5:36 PM
AUD-USD	0.7151	0.00	0.01%	5:36 PM
USD-CAD	1.3777	0.00	0.00%	5:36 PM
USD-CHF	0.7867	0.00	0.00%	5:36 PM

 

 

USD-CZK	20.8983	0.01	0.02%	5:34 PM
USD-SKK	25.9219	0.01	0.03%	5:34 PM
USD-PLN	3.6493	0.00	0.02%	5:34 PM
USD-HUF	308.9200	0.03	0.01%	5:34 PM
USD-RUB	71.1499	0.14	0.19%	4:14 PM

 

USD-MXN

17.3117

0.01

0.03%

5:33 PM

POŻYCZKI HIPOTECZNE

 

ELITE 21-30 YEAR				ELITE 16-20 YEAR
RATE	15 DAY	30 DAY	45 DAY	RATE	15 DAY	30 DAY	45 DAY
7.625	-4.198	-4.108	-3.978	7.625	-4.430	-4.340	-4.210
7.500	-3.839	-3.749	-3.619	7.500	-3.837	-3.747	-3.617
7.375	-3.294	-3.204	-3.074	7.375	-3.358	-3.268	-3.138
7.250	-2.739	-2.649	-2.519	7.250	-2.801	-2.711	-2.581
7.125	-2.483	-2.393	-2.263	7.125	-2.467	-2.377	-2.247
6.999	-2.187	-2.097	-1.967	6.999	-2.122	-2.032	-1.902
6.875	-1.607	-1.517	-1.387	6.875	-1.608	-1.518	-1.388
6.750	-0.951	-0.861	-0.731	6.750	-1.039	-0.949	-0.819
6.625	-1.255	-1.165	-1.035	6.625	-1.157	-1.067	-0.937
6.500	-0.884	-0.794	-0.664	6.500	-0.775	-0.685	-0.555
6.375	-0.235	-0.145	-0.015	6.375	-0.244	-0.154	-0.024
6.250	0.533	0.623	0.753	6.250	0.355	0.445	0.575
6.125	0.494	0.584	0.714	6.125	0.464	0.554	0.684
5.999	0.971	1.061	1.191	5.999	0.916	1.006	1.136
5.875	1.763	1.853	1.983	5.875	1.501	1.591	1.721
5.750	2.610	2.700	2.830	5.750	2.145	2.235	2.365
5.625	2.615	2.705	2.835	5.625	2.531	2.621	2.751
5.500	3.194	3.284	3.414	5.500	3.035	3.125	3.255
5.375	4.098	4.188	4.318	5.375	3.658	3.748	3.878

 

ELITE 11-15 YEAR				ELITE 8-10 YEAR
RATE	15 DAY	30 DAY	45 DAY	RATE	15 DAY	30 DAY	45 DAY
7.125	-3.411	-3.321	-3.191	7.125	-3.340	-3.250	-3.120
7.000	-3.215	-3.125	-2.995	7.000	-3.192	-3.102	-2.972
6.875	-2.960	-2.870	-2.740	6.875	-2.990	-2.900	-2.770
6.750	-2.457	-2.367	-2.237	6.750	-2.486	-2.396	-2.266
6.625	-2.180	-2.090	-1.960	6.625	-2.162	-2.072	-1.942
6.500	-1.952	-1.862	-1.732	6.500	-1.998	-1.908	-1.778
6.375	-1.679	-1.589	-1.459	6.375	-1.788	-1.698	-1.568
6.250	-1.158	-1.068	-0.938	6.250	-1.267	-1.177	-1.047
6.125	-0.949	-0.859	-0.729	6.125	-1.156	-1.066	-0.936
6.000	-0.683	-0.593	-0.463	6.000	-0.960	-0.870	-0.740
5.875	-0.353	-0.263	-0.133	5.875	-0.701	-0.611	-0.481
5.750	0.191	0.281	0.411	5.750	-0.157	-0.067	0.063
5.625	0.548	0.638	0.768	5.625	0.119	0.209	0.339
5.500	0.864	0.954	1.084	5.500	0.357	0.447	0.577
5.375	1.236	1.326	1.456	5.375	0.648	0.738	0.868
5.250	1.797	1.887	2.017	5.250	1.209	1.299	1.429
5.125	2.308	2.398	2.528	5.125	1.780	1.870	2.000
5.000	2.682	2.772	2.902	5.000	2.076	2.166	2.296
4.875	3.074	3.164	3.294	4.875	2.380	2.470	2.600

 

30 Yr. Fixed 6.65% +0.00% 5.99% 7.07% 15 Yr. Fixed 6.23% +0.01% 5.55% 6.37% 30 Yr. Jumbo 6.77% +0.01% 6.1% 7.15%

Compare Mortgage Rates from Local Lenders for May 22, 2026

Mortgage Rates End Week Roughly Unchanged Fri, May 22, 2026 1:19PM Mortgage lenders rely on the bond market to generate mortgage rates. In addition to being fully closed on Monday for Memorial Day, bonds also close 3 hours earlier than normal on the preceding Friday (i.e. today). The abbreviated trading session was fairly uneventful for rates despite some back-and-forth volatility in response to diplomacy headlines surrounding Iran/US peace negotiations. The flow of news resulted in better bond market levels early in the day and a pull-back in the late AM hours. After accounting for some lenders’ mid-day rate changes, the average lender ended the day right … (read more)

Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.65% 0.00 0.00 15 Yr. Fixed 6.23% +0.01 0.00 30 Yr. FHA 6.18% -0.01 0.00 30 Yr. Jumbo 6.77% +0.01 0.00 7/6 SOFR ARM 6.61% +0.29 0.00 30 Yr. VA 6.20% -0.01 0.00 Updates Daily – Last Update: 5/22   Freddie Mac Rate Change Points 30 Yr. Fixed 6.51% +0.15 0.00 15 Yr. Fixed 5.85% +0.14 0.00 Updates Weekly – Last Update: 5/21   Mortgage Bankers Assoc. 30 Yr. Fixed 6.56% +0.10 0.60 15 Yr. Fixed 5.93% +0.10 0.73 30 Yr. Jumbo 6.58% +0.10 0.38 Updates Weekly – Last Update: 5/20

UMBS 30YR 5.0 97.54 +0.03 95.89 100.50 UMBS 30YR 5.5 99.77 +0.03 98.25 101.64 10 YR Treasury 4.571 +0.003 3.948 4.668

Abbreviated Friday Opening at Week’s Best Levels Fri, May 22, 2026 8:59AM Bonds are starting the session at the best levels of the week with modest overnight gains getting a small boost from news that Pakistan’s army chief (a central figure in mediating US/Iran peace talks) is en route to Tehran. Trading ends at 2pm today instead of 5pm, as is usually the case for a Friday before a Monday federal holiday. Econ data is light, … (read more)

MBS Price Change UMBS 4.5 95.16 +0.05 UMBS 5.0 97.54 +0.03 UMBS 5.5 99.77 +0.03 GNMA 4.5 94.89 -0.10 GNMA 5.0 98.01 +0.01 GNMA 5.5 100.10 +0.11 Pricing as of: 5/22 1:56PM EST   US Treasury Yield Change 2 YR Treasury 4.130 +0.048 5 YR Treasury 4.267 +0.024 7 YR Treasury 4.414 +0.010 10 YR Treasury 4.571 +0.003 30 YR Treasury 5.081 -0.010 Pricing as of: 5/22 1:56PM EST