Bond Market Update

Bond Market Update


 Mortgage pricing is worse than it was yesterday

Source: Thomson Reuters

Market Update

Thursday, May 8, 2025

What's going on, and why does it matter?
Mortgage bonds are hovering near their 10-day and 30-day moving averages, and stocks are set to open higher in hopes that the trade war may de-escalate. A US-UK trade deal was announced today, and there's optimism about a possible US-China deal at the upcoming trade talks. On today's economic calendar, weekly jobless claims ticked lower from the prior week. A few large Treasury auctions are scheduled throughout the day, which may put some negative pricing pressure on mortgage bonds.

What should you do about it?
Lock your rate to be safe.

Economic Calendar

Economic reports that may impact mortgage rates this week:
Date Report Period Prior Est. Actual
Mon 5 May S&P Global Services PMI Apr 54.4 - 50.8
Mon 5 May ISM Services PMI Apr 50.8 50.6 51.6
Tue 6 May US Trade Deficit Mar $122.7B $137B $140.5B
Wed 7 May Fed Funds Target Rate - 4.25-4.5% 4.25-4.5% 4.25-4.5%
Thu 8 May Initial Jobless Claims Week ending May 3 241k 231k 228k