📉📈 Market commentary for Friday October 9, 2026.
Recap:
Yesterday, bonds were choppy through the morning, and right around 12 pm Eastern time, mortgage-backed securities specifically started to improve through the afternoon, cresting around 2 pm and holding steady till the end of the day. There's really no clear reason to point to for the improvements, anything more than traders trading. Although quite a few lenders repriced better, as usual, when we've seen improvements, it was nothing to get overly excited about. Just an opportunity to grab some better pricing when you could.
Rate outlook for today...
Rate sheets today will likely be a little bit better than what we saw yesterday in the morning, but will be worse than any reprices that came in. It's a Friday ahead of a 3-day weekend. The bond market is closed on Columbus Day since it's a federal holiday, but stocks are still open. Reprice risk today is moderate. Most lenders will simply price more conservatively to begin with; however, some of the trigger-happy ones could reprice worse if bonds continue to drift lower, as they've done so far this morning.
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