Treasury yields hit 2002 highs as bond market selloff deepens
Michael Brenning, chief operating officer at eLend, says rapid swings in Treasury yields are forcing lenders to reprice multiple times a day, disrupting rate locks, increasing operational pressure, and adding another layer of uncertainty for borrowers. https://t.co/uq8yZ4wEqP
— Mortgage Professional America Magazine (@MPAMagazineUS) October 5, 2026
What does this mean for your pipeline?
The Federal Open Market Committee (FOMC) minutes from its September 19–20 policy meeting are due Wednesday at 2:00 p.m. EDT.
Investors will examine the notes for any indication that officials were treating elevated bond yields as a substitute for further rate hikes, a scenario that could offer some ceiling on borrowing costs in the near term.
As of Monday, October 9, the CME Group’s FedWatch tool showed an 82% probability of the Fed holding rates steady at its next meeting.
A softer-than-expected September jobs report reinforced that consensus and helped pull yields slightly off their intraday peaks.
“For the Fed, this number should be the nail in the coffin for an October hike,” Thomas Simons, chief US economist at Jefferies, said in a note after the Bureau of Labor Statistics released the data on Friday.