Mortgage Rates Finally Tick Slightly Higher

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Post-NFP Rally Momentum Fades

When bonds string together several successive days of improvement, the probability of a corrective bounce increases. This is especially true as the rally covers more ground and more time. With 10yr yields dropping nearly 30bps over 4 consecutive sessions, a corrective bounce was a relevant concern, and it arrived today. That said, it was also fairly mild as far as corrective bounces go. On a separate note, many market watchers are confused as to why bonds would lose ground despite a historically large preliminary NFP benchmark revision (released this morning). But this revision pertains to the March 2024 through March 2025 t

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