Mortgage News Daily - August 14, 2025

Mortgage Rates Mostly Steady Despite Some Market Volatility

Bonds Hold The Range Despite More Data-Driven Volatility At 0.

Bonds Hold The Range Despite More Data-Driven Volatility At 0.9, not only did today's PPI crush the 0.2 forecast, but it's also the highest reading since post-covid hyper-inflation by a wide margin.  And while there's always a chance it will be revised to something less alarming next month, it was enough to do noticeable damage to bonds today.  Before the data, 10yr yields were knocking on the yield floor at 4.20%.  This afternoon, they're up closer to 4.30%.  Things could have been even worse if not for the fact that the PCE components in the PPI data suggested a much less onerous impact on the PCE data that will come out in 2 weeks. Nonetheless, it will be enough to keep eyebrows raised regarding the extent to which tariffs are hindering a return to the 2% inflation target (something that will unfortunately be up in the air for many months).  Econ Data / EventsCore PPI 0.9 vs 0.2 f'cast, 0.0 prev Annual Core PPI3.7 vs 2.9 f'cast, 2.6 prev Jobless Claims224k vs 228k f'cast, 227k prev Market Movement Recap08:43 AM stronger overnight but losing ground after PPI.  MBS unchanged and 10yr nearly unchanged at 4.237 11:14 AM Additional weakness now.  MBS down an eighth and 10yr up 3.7bps at 4.278 11:45 AM MBS down 6 ticks (.19) and 10yr up 5bps at 4.291 01:38 PM Off the weakest levels.  MBS down 5 ticks (.16) and 10yr up 4.8bps at 4.289