💡See also: Mortgage Tidbits (below). It was shades of 2023 as regional U.S. banks came under scrutiny again. That, plus dovish central bank chatter and soft macro data, led rates onto the down escalator Thursday. And by Friday morning, yields were still slipping.

Wednesday was one of those days when bad news was good news, at least if you’re a mortgage shopper. Between the weak data, factory closures, and federal bailouts, traders could practically hear the Bank of Canada rummaging through its drawers for the rate-cut shears.

💡See also: Mortgage Tidbits (below). On Tuesday, Fed Chair Jerome Powell gave a speech so dovish it could’ve nested in a bird sanctuary. Overly hawkish economists subsequently scurried to revise their forecasts, and could barely do it fast enough.

💡See also: Mortgage Tidbits (below) including an important OSFI update. Bond markets ended last week in full soap-opera mode — tariffs, blockbuster employment, an oil slide, and political theatrics all competed for the spotlight.