Category Archives: Housing News

Jun 26, 2026 4:29 PM

We’ve had our fair share of big news events causing big reactions in markets over the past few months, but this week offered a welcome reminder that not every improvement in mortgage rates requires a dramatic headline. After moving back toward recent highs early in the week, rates recovered sharply on Wednesday and then managed to hold those gains through Friday, ending at the lowest levels since mid-May.

Some of the improvement was helped by lower oil prices and tame inflation data, but the biggest motivation came from quarter-end trading. Large institutional investors periodically adjust the balance between stocks and bonds in their portfolios. Because stocks have significantly outperformed bonds in recent months, many investors have been buying bonds to restore those targets. Higher demand for bonds translates into lower interest rates.

Unlike recent weeks, there wasn’t a single dominant news story driving the market. Monday’s weakness lacked a convincing explanation, Tuesday was one of the quietest trading days in months, and the strongest gains arrived Wednesday as quarter-end rebalancing demand became more apparent. Thursday was the only potential exception as bonds definitely seemed to benefit from an as-expected reading on a key inflation report, but most of the early improvement faded by the afternoon before giving way to an even more sideways day on Friday.

There’s no official way to measure the timing and scale of quarter-end rebalancing. Instead it must be inferred from context. In this case, there’s little else that could explain the huge swing in bonds on Wednesday morning. There were no major headlines coming out at the time, and there was no correlated movement in oil prices or stocks (oil was moving lower that morning, but was almost done with its move before bonds started rallying).

Perhaps even more telling was the fact that Fed Funds Futures weren’t really moving at all at the time. If there had been something in the news or economic calendar fueling the bond buying, we would typically see it show up here as well.

Regardless of motivations, the results were good for mortgage rates, which spent both Thursday and Friday at their lowest level in more than a month according to MND’s daily rate index.

While that’s certainly welcome news, it comes with a familiar caveat. There are a few more days left for quarter-end trading to potentially exaggerate market movement in either direction. Still, the bulk of that volatility has likely already been seen.

From there, investor attention quickly shifts back to economic data, which arrives in force next week. Due to the Independence Day holiday, the monthly jobs report will be released next Thursday instead of Friday. It is routinely the most important economic report of the month and has the potential to determine whether this week’s improvement is extended or reversed.

Recently Released Economic Data

Time

Event

Period

Actual

Forecast

Prior

Tuesday, Jun 23

9:45

S&P Global Services PMI

51.3

50.7

Wednesday, Jun 24

10:00

0.58M

0.64M

0.622M

Thursday, Jun 25

8:30

Jun/20

Jobless Claims (k)

Jun/20

215K

225K

226K

8:30

PCE (y/y) (%)

4.1%

3.8%

8:30

Core PCE (y/y) (%)

3.4%

3.3%

8:30

Durable goods (%)

-4.5%

7.9%

Friday, Jun 26

10:00

Consumer Sentiment (ip)

49.5

44.8

Tuesday, Jun 30

9:00

1.1%

0.9%

0.8%

9:00

1.7%

9:45

Chicago PMI

56.7

58.1

62.7

10:00

USA JOLTS Job Openings (ml)

7.594M

7.30M

7.618M

10:00

CB Consumer Confidence (%)

91.2

94.7

93.1

Wednesday, Jul 01

8:15

ADP jobs (k)

113K

122K

9:00

Fed Chair Warsh Speech

10:00

ISM Manufacturing PMI

53.3

54.0

Thursday, Jul 02

8:30

Jun/27

Jobless Claims (k)

Jun/27

215K

220K

215K

8:30

Non Farm Payrolls (k)

110K

172K

8:30

Unemployment rate mm (%)

4.2%

4.3%

Event Importance:

Low

Moderate

Important

Very Important

Around the Web

Friday, June 26, 2026

Mortgage News Daily

Mortgage Applications Edge Higher Despite Elevated Rates

Mortgage News Daily

Housing Starts Not Nearly as Scary Without Weird Multifamily Nosedive

Mortgage News Daily

UMich final June consumer sentiment 49.5 vs 50.0 expected

Investing Live

Realtor.com

Thursday, June 25, 2026

Fed’s Goolsbee: Inflation is going the wrong way

Investing Live

US initial jobless claims 215K vs 225K estimate. Continuing claims 1.821M vs 1.800M est

Investing Live

US GDP final Q1 2.1% versus 1.6% estimate

Investing Live

Core inflation rate hit 3.4% in May, highest since October 2023, Feds preferred gauge shows

CNBC

Wednesday, June 24, 2026

Trump cancels signing of landmark bipartisan bill aimed at lowering housing costs

Rates matter — but execution matters more.

I call the listing agent on every offer to proactively position your buyer. I’m available 7 days a week because deals don’t happen Monday through Friday. And when needed, we can utilize our “cash-like” offer program to give your buyers a competitive edge in multiple-offer situations.

My goal is simple: make your offers stronger and your escrows smoother.

Average Mortgage Rates

Mortgage News Daily

Freddie Mac

Rate

Change

Points

30YR Fixed

6.87%

+0.06

15YR Fixed

6.38%

+0.03

30YR FHA

6.40%

+0.03

30YR Jumbo

6.92%

+0.02

7/6 SOFR

6.42%

+0.09

30YR VA

6.42%

+0.05

Rate

Change

Points

30YR Fixed

6.78%

-0.10

0.66

15YR Fixed

6.10%

-0.01

0.90

30YR FHA

6.46%

-0.13

0.82

30YR Jumbo

6.73%

-0.15

0.50

7/6 SOFR

5.98%

-0.18

0.88

Rate

Change

Points

30YR Fixed

6.66%

+0.45

0.00

15YR Fixed

5.98%

+0.51

0.00

MBS and Treasury

Price / Yield

Change

UMBS 5.5

98.91

–0.10

UMBS 6.0

101.06

–0.07

10 YR Treasury

4.777

+-0.19

30 YR Treasury

5.201

-0.05

Pricing as of:

8/31 10:55PM

Recent Housing Data

Value

Change

Mortgage Apps

245.3

-0.97%

4.06M

-0.73%

Builder Confidence

2.94%

Building Permits

1.44M

5.56%

Housing Starts

1.24M

-13.17%

259 W Channel Rd

Source: US Housing Market Weekly — Jay Bridges, Mortgage Lender, Priority Capital Corporation

Jun 18, 2026 3:03 PM

Since March 1st, the Iran war has been the primary reason for movement and volatility in the bond/rate market. Pre-war motivations were woefully muted. That changed a bit with the jobs report two weeks ago and it changed again with this week’s Fed announcement. Thankfully, the damage was quickly reversed.

Rates began the week on solid footing as prospects for the Iran peace deal continued to materialize. The market had mostly priced the peace deal into trading levels last Thursday, but reports of high level officials actually signing the deal helped yields push to their lowest levels in a month as of Tuesday.

The week’s only meaningful volatility followed Wednesday afternoon’s Fed announcement. With this being the first Fed meeting under new Chair Kevin Warsh, one could consider that the market had a bad reaction to his approach. And while that claim could be made in a roundabout way, the easier claim to prove is that the dot plot did most of the damage.

What is the dot plot?

Concurrent with the Jan/Mar/Sep/Dec meetings, the Fed also releases a summary of economic projections (SEP). Within the SEP, there is an outlook for expected Fed Funds Rate levels listed for each Fed member.  It’s expressed in tabular format as well as a dot plot. “The dots” have become a prime focus of rate watchers as a useful tool for understanding the Fed’s reaction function.

In other words, traders make educated guesses as to how the Fed’s rate expectations will evolve based on data and events. The dots confirm or modify that understanding.

In this week’s case, the market was priced for the possibility of a rate hike by the end of the year, but with plenty of room for the Fed to hold steady as well. The dot plot easily confirmed the rate hike potential and arguably suggested the market needed to be even more prepared for a hike.

The following chart shows where the dots were last cycle (in March) versus yesterday (June):

Focusing on the 2026 column, we see the median Fed member projecting zero hikes/cuts by the end of the year (3.375%) back in March compared to 3.625% this week.  Additionally, 9 of the votes were 3.875% or higher versus 10 votes for 3.625% or lower. This means nearly half the FOMC sees TWO rate hikes by December.

There was also notable upward migration of dots for 2027 and 2028. All told, this was more hawkish than the market expected and there was an immediate reaction when the dot plot was released at 2pm ET.

How did Warsh come into play?

Opinions were divided over how Warsh handled his first press conference, so we’ll avoid speculation and focus on facts. Contrary to many expectations, Warsh did not attempt to make a case for rate cuts (or rate hikes, for that matter). In fact, he avoided commenting on forward guidance entirely.

Importantly, he also didn’t attempt to push back on the hawkish message of the dot plot. In the past, when the dots painted an obviously hawkish or dovish picture, previous Fed Chair Powell tended to offer the other side of the coin in the press conference, thus mitigating Fed Day volatility and restoring a more nuanced takeaway. While Warsh did reference the dot plot as being a highly uncertain endeavor (“written in pencil, not in pen” in his words), he did nothing to suggest those pencils were in an overly hawkish stance.

Additionally, Warsh’s refusal to engage reporters on any form of forward guidance deprived the market of its ability to further refine its understanding of how the Fed may react to incoming data over the next 6 weeks. Some argued that this added uncertainty required higher risk premium in the form of weaker trading levels.

How’d it all shake out?

By Friday, much of the damage was undone in longer-term rates like 10yr Treasury yields and much of the damage remained in shorter term rates like 2yr Treasury yields. And the shortest-term rate indications, such as the implied Fed Funds Rate based on Fed Funds Futures, didn’t recover at all. The following chart shows that expected rate for the month of December. It rose .18% after the Fed announcement and now stands almost 1% higher from before the Iran war. In other words, in late Feb, the market saw the Fed cutting twice this year. Now it sees 2 hikes.

How’d mortgage rates react to all of this?

Fortunately, the average mortgage lasts long enough to behave more like 5-10yr Treasuries and less like the super-short-term rates like Fed Funds Implied Yields and short-term Treasuries.  They didn’t spike egregiously on Wednesday and managed to erase half of those losses on Thursday. In fact, in the slightly bigger picture, this week’s volatility was completely uneventful, even though rates remain broadly elevated relative to the last 10 months.

What’s next?

Iran war updates remain important. While the memo is signed, official peace has yet to be confirmed. When that happens–and especially if oil prices continue to behave–rates could see slow and steady additional benefits. Apart from that, markets will gradually transition back to paying more attention to data with a special focus on inflation related data in order to assess lingering impacts from the recent fuel price spike.

Recently Released Economic Data

Time

Event

Period

Actual

Forecast

Prior

Monday, Jun 15

8:30

NY Fed Manufacturing

5.70

19.60

9:15

Industrial Production (%)

0.1%

0.3%

0.7%

Wednesday, Jun 17

8:30

Retail Sales (%)

0.9%

0.5%

10:00

3.8%

0.8%

1.4%

14:00

Fed Interest Rate Decision

3.75%

14:30

Fed Press Conference

Thursday, Jun 18

8:30

Jun/13

Jobless Claims (k)

Jun/13

226K

225K

229K

8:30

Philly Fed Business Index

10.3

-0.4

Friday, Jun 19

0:00

Juneteenth

Event Importance:

Low

Moderate

Important

Very Important

Around the Web

Thursday, June 18, 2026

Mortgage Rates Stage Decent Recovery of Post-Fed Losses

Mortgage News Daily

Mortgage Applications Give Back Some of Last Week’s Gains

Mortgage News Daily

Builder Sentiment Remains Subdued

Mortgage News Daily

Gains for Household Real Estate Assets

Eye on Housing

Realtor.com

Wednesday, June 17, 2026

Fed holds rates steady, pares down statement to remove cutting bias

CNBC

US May advance retail sales +0.9% vs +0.5% expected

Investing Live

Tuesday, June 16, 2026

Import prices rose much more than expected in May

CNBC

Monday, June 15, 2026

Oil prices fall on proposed U.S.-Iran framework to reopen Strait of Hormuz

CNBC

Rates matter — but execution matters more.

I call the listing agent on every offer to proactively position your buyer. I’m available 7 days a week because deals don’t happen Monday through Friday. And when needed, we can utilize our “cash-like” offer program to give your buyers a competitive edge in multiple-offer situations.

My goal is simple: make your offers stronger and your escrows smoother.

Average Mortgage Rates

Mortgage News Daily

Freddie Mac

Rate

Change

Points

30YR Fixed

6.87%

+0.06

15YR Fixed

6.38%

+0.03

30YR FHA

6.40%

+0.03

30YR Jumbo

6.92%

+0.02

7/6 SOFR

6.42%

+0.09

30YR VA

6.42%

+0.05

Rate

Change

Points

30YR Fixed

6.78%

-0.10

0.66

15YR Fixed

6.10%

-0.01

0.90

30YR FHA

6.46%

-0.13

0.82

30YR Jumbo

6.73%

-0.15

0.50

7/6 SOFR

5.98%

-0.18

0.88

Rate

Change

Points

30YR Fixed

6.66%

+0.45

0.00

15YR Fixed

5.98%

+0.51

0.00

MBS and Treasury

Price / Yield

Change

UMBS 5.5

98.91

–0.10

UMBS 6.0

101.06

–0.07

10 YR Treasury

4.777

+-0.19

30 YR Treasury

5.201

-0.05

Pricing as of:

8/31 10:55PM

Recent Housing Data

Value

Change

Mortgage Apps

245.3

-0.97%

4.06M

-0.73%

Builder Confidence

2.94%

Building Permits

1.44M

5.56%

Housing Starts

1.24M

-13.17%

259 W Channel Rd

Source: US Housing Market Weekly — Jay Bridges, Mortgage Lender, Priority Capital Corporation

Jun 12, 2026 4:42 PM

Since late March, markets have had repeated opportunities to play deal or no deal when it comes to ending the Iran war. Sometimes we won. Sometimes we lost. This week’s installment was touch and go, but ultimately a winner.

A quick recap of the underlying nuts and bolts:

The Iran war caused oil prices to spike

Higher oil implies higher inflation

Higher inflation begets higher rates

There are ancillary considerations, but the bullet points above account for a majority of the volatility.

Rates began the week higher as fighting continued over the weekend in Iran, but the tone began to shift almost immediately with Israel agreeing to halt attacks in Lebanon. Bonds broke from oil prices later that day (i.e. yields/rates moved higher despite oil prices moving lower), presumably due to a rotation back into the stocks and defensiveness ahead of this week’s cycle of Treasury auctions.

The deal/no deal correlations were again in focus on Wednesday as Trump said the U.S. would be attacking Iran “very hard.” But the following day, Trump not only cancelled further attacks, but also made the most forceful/convincing announcement of a peace deal so far.

Even though markets take this game with a grain of salt, there was broad willingness to react this time. Bond yields and oil prices dropped sharply. Stocks surged. All that remained was to see whether Iran’s response would be “no deal.”

Throughout this process, it’s been common for one side to refute claims made by the other. While some news outlets released snippets that arguably tried to push back on peace deal prospects, that pushback was markedly softer than previous examples. By Friday morning, we had Iran’s foreign minister confirming that the two sides had never been closer to signing a memo that would effectively end the war and begin a more formal peace negotiation.

With that, bonds managed to end the week very close to their best levels. Because mortgage rates are based on bonds, 30yr fixed rates hit their lowest level in more than a week. The average lender is only 0.02% above the lowest level in 4 weeks seen on May 29th. The only catch is that the 4-week range consists of the highest rates of the past 10 months.

Heading into next week, we can expect more volatility for better or worse depending on what’s in the briefcase. If a peace deal is actually signed, rates would likely drop even more. If hostilities re-flare, we’ll continue flirting with long-term highs.

Wednesday brings the next Fed announcement where markets expect effectively no chance of a hike or a cut. Fed day could still cause volatility depending on comments from new Fed Chair Kevin Warsh.

Recently Released Economic Data

Time

Event

Period

Actual

Forecast

Prior

Monday, Jun 08

11:00

Consumer Inflation Expectations

3.5%

3.6%

Tuesday, Jun 09

10:00

Existing home sales (ml)

4.17M

4.07M

4.02M

Wednesday, Jun 10

8:30

y/y CORE CPI (%)

2.9%

2.8%

8:30

y/y Headline CPI (%)

4.2%

3.8%

Thursday, Jun 11

8:30

PPI y/y

6.5%

6.4%

8:30

Core PPI y/y (%)

4.9%

5.4%

5.2%

Friday, Jun 12

10:00

Consumer Sentiment (ip)

48.9

44.8

Wednesday, Jun 17

8:30

Retail Sales (%)

0.9%

0.5%

10:00

3.8%

0.8%

1.4%

14:00

Fed Interest Rate Decision

3.75%

14:30

Fed Press Conference

Thursday, Jun 18

8:30

Philly Fed Business Index

10.3

-0.4

8:30

Jun/13

Jobless Claims (k)

Jun/13

226K

225K

229K

Event Importance:

Low

Moderate

Important

Very Important

Around the Web

Friday, June 12, 2026

Modest Bounce in Refi Demand Despite Rate Volatility

Mortgage News Daily

June US prelim Mich consumer sentiment 48.9 vs 46.0 expected

Investing Live

Thursday, June 11, 2026

Trump cancels Iran strikes scheduled for Thursday evening

CNBC

Residential Building Material Prices Rise at Highest Rate In Over Three Years

Eye on Housing

Wholesale prices rose 1.1% in May, more than expected

CNBC

Wednesday, June 10, 2026

Consumer prices rose 4.2% annually in May, highest in three years

CNBC

Rates matter — but execution matters more.

I call the listing agent on every offer to proactively position your buyer. I’m available 7 days a week because deals don’t happen Monday through Friday. And when needed, we can utilize our “cash-like” offer program to give your buyers a competitive edge in multiple-offer situations.

My goal is simple: make your offers stronger and your escrows smoother.

Average Mortgage Rates

Mortgage News Daily

Freddie Mac

Rate

Change

Points

30YR Fixed

6.87%

+0.06

15YR Fixed

6.38%

+0.03

30YR FHA

6.40%

+0.03

30YR Jumbo

6.92%

+0.02

7/6 SOFR

6.42%

+0.09

30YR VA

6.42%

+0.05

Rate

Change

Points

30YR Fixed

6.78%

-0.10

0.66

15YR Fixed

6.10%

-0.01

0.90

30YR FHA

6.46%

-0.13

0.82

30YR Jumbo

6.73%

-0.15

0.50

7/6 SOFR

5.98%

-0.18

0.88

Rate

Change

Points

30YR Fixed

6.66%

+0.45

0.00

15YR Fixed

5.98%

+0.51

0.00

MBS and Treasury

Price / Yield

Change

UMBS 5.5

98.91

–0.10

UMBS 6.0

101.06

–0.07

10 YR Treasury

4.777

+-0.19

30 YR Treasury

5.201

-0.05

Pricing as of:

8/31 10:55PM

Recent Housing Data

Value

Change

Mortgage Apps

245.3

-0.97%

4.06M

-0.73%

Builder Confidence

2.94%

Building Permits

1.44M

5.56%

Housing Starts

1.24M

-13.17%

259 W Channel Rd

Source: US Housing Market Weekly — Jay Bridges, Mortgage Lender, Priority Capital Corporation

Jun 05, 2026 4:17 PM

While they’re not yet back to the recent long term highs seen on May 19th, mortgage rates surged to 2-week highs on Friday after an exceptionally strong jobs report. This is a bit out of character based on recent norms.

Over the past three months, mortgage rate movement has been driven primarily by developments in the Iran war. It’s not that war, itself, is a consideration, but rather the implications for fuel prices and inflation. Bonds care deeply about inflation and interest rates are based directly on bonds.

When inflation isn’t raging (or at the risk of raging), rates/bonds spend most of their time thinking about the economy. Lately, the data has been sufficiently even-keeled that it hasn’t had enough of an impact to override the war’s inflation-related volatility, but Friday’s jobs report was an exception.

The jobs report is always the biggest consideration when it comes to monthly economic reports, but like other data, its impact had been limited of late. This particular report was so unequivocally strong that it sent shockwaves throughout the entire market.

Job growth crushed the forecast of 85k for the month of May by surging to 172k. If that had been an isolated phenomenon, the market might not have cared too much, but the revisions to the past 2 months completely changed the market’s understanding of the present labor market.

Back in April, the jobs numbers for March came out at 178k–very high, but at the time, an isolated outlier in a sea of mediocre data. Then in early May, April’s job count fell to 115k and the market remained indifferent to the data.

Jobs data is always revised for the trailing 2 months as additional survey responses come in late. In this week’s case, that resulted in hefty upward revisions. The 178k from March became 214k and April’s 115k became 179k.

With that, in a single moment, the labor market went from looking like it was in a general downtrend to a firm show of support. Some would even say there’s re-acceleration. It’s easier to make a case for this when viewing a moving average of the job count in order to smooth out some of the volatility.

Others would say the broader downtrend remains and recent results merely test the upper boundary of that trend.

The choice of description doesn’t matter. To the market, it was a compelling argument that the Fed is in no position to consider rate cuts, regardless of the Iran war and, if anything, is far more likely to consider rate hikes later this year, and especially by March of next year, with Fed Funds Futures now indicating 2 rate hikes. Before the Iran war, the expectation was to have seen 2 cuts by then–a total swing of 1.00%.

The broader rate market takes immediate cues from such rapid shifts in Fed rate expectations. Mortgage rates were no exception.

For those seeking solace, in addition to the fact that rates remain under the recent highs from May 19th, it continues to be the case that a confirmed peace deal between the U.S. and Iran would likely facilitate another meaningful drop. In addition, labor market data has indeed been more volatile than normal due, in part, to lower survey response rates–especially evident after last year’s government shutdown. Ultimately, this week’s reaction to the data will only be indicative of a broader uptrend in rates if additional data sings the same tune or if the Iran war drags on.

Recently Released Economic Data

Time

Event

Period

Actual

Forecast

Prior

Monday, Jun 01

10:00

ISM Manufacturing PMI

54.0

52.7

Tuesday, Jun 02

10:00

USA JOLTS Job Openings (ml)

7.618M

6.88M

6.866M

Wednesday, Jun 03

10:00

ISM N-Mfg PMI

54.5

53.8

53.6

Thursday, Jun 04

8:30

May/30

Jobless Claims (k)

May/30

225K

213K

215K

8:30

Unit Labour Costs QoQ Final

1.8%

2.5%

4.6%

Friday, Jun 05

8:30

Unemployment rate mm (%)

4.3%

8:30

Non Farm Payrolls (k)

172K

115K

Monday, Jun 08

11:00

Consumer Inflation Expectations

3.5%

3.6%

Tuesday, Jun 09

10:00

Existing home sales (ml)

4.17M

4.07M

4.02M

Wednesday, Jun 10

8:30

y/y CORE CPI (%)

2.9%

2.8%

8:30

m/m CORE CPI (%)

0.2%

0.3%

0.4%

Thursday, Jun 11

8:30

PPI y/y

6.5%

6.4%

Friday, Jun 12

10:00

Consumer Sentiment (ip)

48.9

44.8

Event Importance:

Low

Moderate

Important

Very Important

Around the Web

Friday, June 5, 2026

Mortgage Apps Pull Back Modestly

Mortgage News Daily

Odds of a Fed hike this year jump on prediction markets

CNBC

U.S. payrolls rose by 172,000 in May, much more than expected; unemployment at 4.3%

CNBC

Thursday, June 4, 2026

Highest Paid Occupations in Construction in 2025

Eye on Housing

Wednesday, June 3, 2026

House Price Appreciation by State and Metro Area in the First Quarter of 2026

Eye on Housing

Private payrolls grew by 122,000 in May, stronger than expected, ADP reports

CNBC

Sellers are pulling homes off the market at the fastest pace since 2020

CNBC

Tuesday, June 2, 2026

US April JOLTS job openings 7.618m vs 6.88m expected

Investing Live

Fed’s Hammack: We may need to act soon if inflation trends don’t cool

Investing Live

CNBC

Rates matter — but execution matters more.

I call the listing agent on every offer to proactively position your buyer. I’m available 7 days a week because deals don’t happen Monday through Friday. And when needed, we can utilize our “cash-like” offer program to give your buyers a competitive edge in multiple-offer situations.

My goal is simple: make your offers stronger and your escrows smoother.

Average Mortgage Rates

Mortgage News Daily

Freddie Mac

Rate

Change

Points

30YR Fixed

6.87%

+0.06

15YR Fixed

6.38%

+0.03

30YR FHA

6.40%

+0.03

30YR Jumbo

6.92%

+0.02

7/6 SOFR

6.42%

+0.09

30YR VA

6.42%

+0.05

Rate

Change

Points

30YR Fixed

6.78%

-0.10

0.66

15YR Fixed

6.10%

-0.01

0.90

30YR FHA

6.46%

-0.13

0.82

30YR Jumbo

6.73%

-0.15

0.50

7/6 SOFR

5.98%

-0.18

0.88

Rate

Change

Points

30YR Fixed

6.66%

+0.45

0.00

15YR Fixed

5.98%

+0.51

0.00

MBS and Treasury

Price / Yield

Change

UMBS 5.5

98.91

–0.10

UMBS 6.0

101.06

–0.07

10 YR Treasury

4.777

+-0.19

30 YR Treasury

5.272

+-0.44

Pricing as of:

8/31 10:54PM

Recent Housing Data

Value

Change

Mortgage Apps

245.3

-0.97%

4.06M

-0.73%

Builder Confidence

2.94%

Building Permits

1.44M

5.56%

Housing Starts

1.24M

-13.17%

259 W Channel Rd

Source: US Housing Market Weekly — Jay Bridges, Mortgage Lender, Priority Capital Corporation

May 29, 2026 3:10 PM

Some news stories called out this week’s mortgage rates as being the highest since last August, and while many of them came out only yesterday, this is really old news from last week.

Both the Mortgage Bankers Association (MBA) and Freddie Mac release weekly mortgage rate surveys on Wednesday and Thursday respectively. These well-regarded reports have been around so long that many news outlets continue treating them as the definitive word on weekly mortgage rate movement. But reality is more nuanced.

While the rate trends captured in each survey are broadly accurate over time, they tend to do a better job of providing a stale, weekly snapshot rather than the timely look at rates that most borrowers are interested in. Both reports take a trailing 5 day average and report it the following day.

When the rate market is experiencing a decent amount of back-and-forth volatility, that often results in headlines like “highest mortgage rates since August 2025” when, in fact, the week ended with the lowest rates since May 14th. In the chart below, simply follow the blue line for the more timely look at daily rate changes.  Bottom line, the highest levels since August happened last week (

as we reported

at the time), and we’ve recovered nicely since then.

This week’s improvement was primarily driven by the same thing that’s been responsible for most of the volatility over the past 3 months: the Iran war. Starting on Monday (when U.S. markets were still closed for the holiday), news came out regarding The U.S. and Iran being close to agreeing on a one page framework for a memo of understanding that would end the war and begin a 60 day process of hashing out additional details for a permanent peace agreement.

If “memo” sounds familiar, that’s because markets have been talking about it since early May (

as we covered at the time

). The underlying details of said memo don’t appear to have changed much during that time. Instead, the market is responding to its sense of how close that memo is to being made official. It’s not an oversimplification to say that every time a similar rumor/report hits the newswires, the more the market is willing to react.

Bottom line: yes, it is deja vu, but the market’s sense of incremental progress is technically “something new.”

Recently Released Economic Data

Time

Event

Period

Actual

Forecast

Prior

Tuesday, May 26

9:00

1.7%

9:00

0.8%

0.9%

10:00

CB Consumer Confidence (%)

93.1

92.8

Thursday, May 28

8:30

May/23

Jobless Claims (k)

May/23

215K

211K

209K

8:30

GDP (%)

1.6%

2.0%

0.5%

8:30

PCE (y/y) (%)

3.8%

3.5%

8:30

Core PCE (y/y) (%)

3.3%

3.2%

8:30

Durable goods (%)

7.9%

3.5%

0.8%

10:00

0.622M

0.67M

0.682M

Friday, May 29

9:45

Chicago PMI

62.7

50.5

49.2

Monday, Jun 01

10:00

ISM Manufacturing PMI

54.0

52.7

Tuesday, Jun 02

10:00

USA JOLTS Job Openings (ml)

7.618M

6.88M

6.866M

Wednesday, Jun 03

8:15

ADP jobs (k)

122K

117K

109K

10:00

ISM N-Mfg PMI

54.5

53.8

53.6

Thursday, Jun 04

8:30

May/30

Jobless Claims (k)

May/30

225K

213K

215K

Friday, Jun 05

8:30

Unemployment rate mm (%)

4.3%

8:30

Non Farm Payrolls (k)

172K

115K

Event Importance:

Low

Moderate

Important

Very Important

Around the Web

Friday, May 29, 2026

Mortgage News Daily

Fed’s Daly says she doesn’t see mass unemployment or displacement from AI

Investing Live

No Surprise: Last Week’s Higher Rates Hit Refinance Demand

Mortgage News Daily

Rent Prices Continue to Rise, While Absorption Remains Low

Eye on Housing

Fed Governor Michelle Bowman warns against hiking interest rates because of inflation spike

CNBC

Thursday, May 28, 2026

Closer to home: Americans are moving less and staying local

Bank of America

Core inflation hit an annual rate of 3.3% in April, as expected, Feds preferred gauge shows

CNBC

Fed’s Cook Prepared to Raise Rates If Inflation Lingers

Yahoo Finance

Wednesday, May 27, 2026

U.S. oil falls below $89 on report Iran agreement would restore Hormuz traffic in one month

CNBC

Iran’s state TV says it has a draft of the initial unofficial framework for the MoU

Investing Live

Tuesday, May 26, 2026

Fed’s Kashkari: The Fed could embark on a series of hikes in response to inflation.

Investing Live

Consumer confidence stands at 93.1 in May

CNBC

First Quarter 2026 Multifamily Construction Data

Eye on Housing

Treasury yields slide after Memorial Day break as traders weigh Iran peace prospects

CNBC

Rates matter — but execution matters more.

I call the listing agent on every offer to proactively position your buyer. I’m available 7 days a week because deals don’t happen Monday through Friday. And when needed, we can utilize our “cash-like” offer program to give your buyers a competitive edge in multiple-offer situations.

My goal is simple: make your offers stronger and your escrows smoother.

Average Mortgage Rates

Mortgage News Daily

Freddie Mac

Rate

Change

Points

30YR Fixed

6.87%

+0.06

15YR Fixed

6.38%

+0.03

30YR FHA

6.40%

+0.03

30YR Jumbo

6.92%

+0.02

7/6 SOFR

6.42%

+0.09

30YR VA

6.42%

+0.05

Rate

Change

Points

30YR Fixed

6.78%

-0.10

0.66

15YR Fixed

6.10%

-0.01

0.90

30YR FHA

6.46%

-0.13

0.82

30YR Jumbo

6.73%

-0.15

0.50

7/6 SOFR

5.98%

-0.18

0.88

Rate

Change

Points

30YR Fixed

6.66%

+0.45

0.00

15YR Fixed

5.98%

+0.51

0.00

MBS and Treasury

Price / Yield

Change

UMBS 5.5

98.91

–0.10

UMBS 6.0

101.06

–0.07

10 YR Treasury

4.777

+-0.19

30 YR Treasury

5.272

+-0.44

Pricing as of:

8/31 10:54PM

Recent Housing Data

Value

Change

Mortgage Apps

245.3

-0.97%

4.06M

-0.73%

Builder Confidence

2.94%

Building Permits

1.44M

5.56%

Housing Starts

1.24M

-13.17%

259 W Channel Rd

Source: US Housing Market Weekly — Jay Bridges, Mortgage Lender, Priority Capital Corporation

May 22, 2026 2:44 PM

This week ended up being the most volatile for interest rates since late March. By Tuesday, the average mortgage lender was at the highest level in more than 9 months. But ultimately, Friday’s rates ended up the same as last Friday’s.

For the most part, the news cycle continues to be dominated by war-related headlines. Almost all of this week’s back-and-forth in financial markets can be lined up with war news. Tuesday’s rate spike was a notable exception. Volume data suggested that at least one very large holder of U.S. Treasuries was doing some very heavy selling.

Because rates are based on bonds, heavy selling has an immediate impact. It pushes bond prices lower and interest rates higher, all else equal. Mortgage rates are based on mortgage-backed securities (MBS) and not Treasuries, but MBS and Treasuries are almost always moving in the same direction on any given day. Thus the heavy Treasury selling spilled over to cause big price changes in MBS (and, thus, mortgage rates).

We can’t really know too much about why this selling occurred, but we do know that it was probably a very large investment fund based on the volume of trades. Even then, there’s no way to know if this was an outright bearish bet against rates or if that fund was simply getting out with the intent of reinvesting in different parts of the bond market in the coming days.

Thankfully, markets reacted to increased peace prospects on Wednesday with sharply lower oil prices and bond yields. Volatility decreased into the end of the week and the news cycle remained constructive enough for bonds to end the week near their best levels. In turn, mortgage rates were able to make it back to last Friday’s levels. The counterpoint is that last Friday’s level was the previous 9-month high at the time.

The market is fully closed on Monday for the Memorial Day holiday. After that, the primary focus should continue to be on the Iran war peace process.

Recently Released Economic Data

Time

Event

Period

Actual

Forecast

Prior

Tuesday, May 19

10:00

1.4%

1.5%

Wednesday, May 20

14:00

FOMC Minutes

Thursday, May 21

8:30

May/16

Jobless Claims (k)

May/16

209K

210K

211K

8:30

Philly Fed Business Index

-0.4

26.7

Friday, May 22

10:00

Consumer Sentiment (ip)

44.8

48.2

49.8

Monday, May 25

0:00

Memorial Day

Tuesday, May 26

9:00

1.7%

9:00

0.8%

0.9%

10:00

CB Consumer Confidence (%)

93.1

92.8

Thursday, May 28

8:30

May/23

Jobless Claims (k)

May/23

215K

211K

209K

8:30

GDP (%)

1.6%

2.0%

0.5%

8:30

PCE (y/y) (%)

3.8%

3.5%

8:30

Durable goods (%)

7.9%

3.5%

0.8%

10:00

0.622M

0.67M

0.682M

Friday, May 29

9:45

Chicago PMI

62.7

50.5

49.2

Event Importance:

Low

Moderate

Important

Very Important

Around the Web

Friday, May 22, 2026

More Waller: Hawkish comments from the Fed Governor

Investing Live

Builders Breaking Ground at Fastest Pace in 2 Years

Mortgage News Daily

Borrowers Shift Toward ARMs as Fixed Rates Climb

Mortgage News Daily

Builder Sentiment Improves Slightly as Mortgage Rates Continue to Weigh on Demand

Mortgage News Daily

Cyclical Weakness for Townhouse Construction

Eye on Housing

Fed Governor Christopher Waller: Inflation is not headed in the right direction

CNBC

Thursday, May 21, 2026

Fed’s Goolsbee: We have a pretty significant inflation problem

Investing Live

Wednesday, May 20, 2026

Fed officials see rate hike ahead if inflation stays elevated, minutes show

CNBC

Breakthrough agreement in housing bill gives investors wins

CNBC

Tuesday, May 19, 2026

Rates matter — but execution matters more.

I call the listing agent on every offer to proactively position your buyer. I’m available 7 days a week because deals don’t happen Monday through Friday. And when needed, we can utilize our “cash-like” offer program to give your buyers a competitive edge in multiple-offer situations.

My goal is simple: make your offers stronger and your escrows smoother.

Average Mortgage Rates

Mortgage News Daily

Freddie Mac

Rate

Change

Points

30YR Fixed

6.87%

+0.06

15YR Fixed

6.38%

+0.03

30YR FHA

6.40%

+0.03

30YR Jumbo

6.92%

+0.02

7/6 SOFR

6.42%

+0.09

30YR VA

6.42%

+0.05

Rate

Change

Points

30YR Fixed

6.78%

-0.10

0.66

15YR Fixed

6.10%

-0.01

0.90

30YR FHA

6.46%

-0.13

0.82

30YR Jumbo

6.73%

-0.15

0.50

7/6 SOFR

5.98%

-0.18

0.88

Rate

Change

Points

30YR Fixed

6.66%

+0.45

0.00

15YR Fixed

5.98%

+0.51

0.00

MBS and Treasury

Price / Yield

Change

UMBS 5.5

98.91

–0.10

UMBS 6.0

101.06

–0.07

10 YR Treasury

4.777

+-0.19

30 YR Treasury

5.272

+-0.44

Pricing as of:

8/31 10:54PM

Recent Housing Data

Value

Change

Mortgage Apps

245.3

-0.97%

4.06M

-0.73%

Builder Confidence

2.94%

Building Permits

1.44M

5.56%

Housing Starts

1.24M

-13.17%

259 W Channel Rd

Source: US Housing Market Weekly — Jay Bridges, Mortgage Lender, Priority Capital Corporation

A Note From Your Mortgage Broker Jay

I’ve been watching property tax bills closely lately, and a few of my clients have seen their assessments jump more than they should have from 2024 to 2025. Under Prop 13, annual increases are capped at 2%, so when a bill comes in higher than expected, it usually means something deserves a closer look.

This isn’t traditional mortgage broker territory, but it directly affects what my clients pay every month, so I pay attention. I’m not a property tax attorney, but I can help you spot issues and walk you through the appeal process. At that point, your realtor becomes your best friend, because we’ll be hunting for the cheapest comps we can find, not the best ones. Funny how that works.

On the insurance side, the market has quietly improved. If you haven’t shopped your homeowners policy recently, there’s a good chance you’re overpaying. For most clients, that’s thousands per year. Send me your tax bill or insurance declaration page and I’ll take a look.

Keys to the Close: How Refinancing Should Work

Some of my favorite clients closed on a home in Santa Monica in May 2024, right near the peak of recent interest rates. I made them the same commitment I make to everyone: we’re going to keep chipping away at that rate until we can’t anymore, and I’ll never have you pay closing costs to do it. In a declining rate environment, paying closing costs usually means you won’t recapture them before the next opportunity.

Their starting rate was 8.375% on a $2,215,000 purchase. Since then we’ve taken it to 7.625%, then 7.125%, and now 6.5%. Their monthly payment dropped from $13,468 to $11,269. That’s $2,200 a month back in their pocket, just like two free mortgage payments a year, or roughly 1.5 months of Westside preschool tuition.

Their home was also appraised at $2.6M, so they’ve built equity simply by owning it. We’re not done. We’ll keep going as rates move lower. Find the home you love and make sure you can afford it. Everything after that is our job.

Opening Doors: What “No-Cost Refinance” Actually Means

Most people hear the word “refinance” and think it’s complicated. It’s not. A refinance simply means replacing your current mortgage with a new one, usually to get a lower interest rate and a better payment. Your old loan gets paid off, and you’re left with a new loan that ideally costs you less each month or over time.

Now the question I get all the time: is it really “no cost”? The honest answer is yes and no. There are always costs involved (appraisal, title, etc.), but in a no-cost refinance, those costs are covered by us or the lender. I call them “Free-fis” because you have zero out-of-pocket or hidden costs.

We monitor the market and reach out before most people even know there’s an opportunity, typically every six months, or sooner if the window opens. By the time you hear that rates have dropped, it’s often already too late. Our role is to identify those windows early and help you move before they disappear.

The Self-Made Buyer: Property Tax Write-Off

Starting in 2025, the cap on deducting state and local taxes, including property taxes, increases from $10,000 to as much as $40,000. For homeowners in high-cost areas like Los Angeles, that matters.

The standard deduction for married couples is around $31,500, which means you only benefit from itemizing if your total deductions exceed that number. This change makes that threshold much easier to clear.

On a $1.5M home with 20% down at 6.375%, here’s what the numbers look like:

• ~$66,000 in combined mortgage interest and property tax deductions
• ~$35,000 above the standard deduction
• Roughly $8,000–$9,000/year in potential tax savings at a $300K household income
• That’s about $700/month

The mortgage interest deduction itself didn’t change. The $750,000 loan limit is still in place. The real shift is that more of your property taxes are now deductible, making it easier for your total deductions to actually count. In simple terms: more of the money you’re already spending on your home can now reduce your taxes.

These are estimates. Every situation is different, and the real number depends on your income, filing status, and how your deductions stack up. Before you buy, it’s worth a conversation with your CPA.

Off the Clock: Family Air Guitar Bands

While I’d like to think I’m a man of many talents, music is not one of them. No one will ever call me the Songbird of Our Generation, but you don’t need talent to join a family air guitar band. You just need commitment and a captive audience under 4 feet tall.

Since I spend what feels like 40–60 hours a week in the car with my kids, we’ve developed a pretty tight set list. The heavy hitters for our completely imaginary, emotionally over-invested touring band include “I’ve Got A Feeling” by Black Eyed Peas, “Love Story” by Taylor Swift (you will get emotional, guaranteed), “Africa” by Toto (commit fully, blow out a vocal cord), and “Call Me Maybe” by Carly Rae Jepsen, which is less of a recommendation and more of a public safety announcement. Do not engage.

As always, if any of this raised a question about rates, what you qualify for, or whether now is the right time to make a move, that’s exactly what I’m here for. Jay Bridges, Priority Capital Corporation. 310-994-8900 | [email protected]

May 15, 2026 4:53 PM

Ask any parent. A lot can change in 9 months. Same story for mortgage rates. During that time, the average 30yr fixed rate dropped 0.65% only to move back up just as much as of the end of the week. This week alone accounted for a 0.23% increase for the average lender as hope quickly faded for a quick end to the Iran war.

The war itself has been responsible for essentially all of the 0.65% jump. Here’s why:

Rates are based on bonds

Bonds hate inflation

The higher fuel prices associated with the war imply more inflation

Thus, higher inflation = higher rates, all else equal

In addition, the war implies additional funding needs for the government. The issuance of more debt is a key funding source for the government and higher debt issuance begets higher rates, all else equal.

Fresh data out this week showed the inflationary impact of the war flowing through to the domestic economy. The Consumer Price Index (CPI) hit its highest level since 2023. Even if we focus on Core CPI (which excludes food and energy categories), annual inflation was the highest since 2025 and monthly inflation came in tied for the fastest pace since 2023.

Wholesale level inflation was even worse according to the Producer Price Index (PPI), with the annual rate surging to 6.0%–the highest since late 2022. Core PPI was also the highest since 2022 at 5.2%.

But inflation data itself wasn’t as big of a deal this week. The market pushed rates higher right when the war began because it expected these numbers to surge. In other words, the market infers inflation impact based on breaking developments.

On that note, Friday was the worst day we’ve seen since the start of the war. A certain portion of the trading community was hoping that this week’s Trump/Xi summit would set the stage for a diplomatic shift that accelerated a peace deal with Iran. As soon as the summit ended without any news of the sort, the bond market immediately began moving higher in yield/rate.

By the end of the day on Friday, 10yr Treasury yields were up more than 0.11% to the highest levels in a year. Mortgage rates “only” back to August levels thanks to increased bond buying on the part of Fannie and Freddie. These purchases of mortgage-backed securities have helped narrow the spread between mortgage rates and Treasury yields.

Looking ahead, the market will remain sensitive to war-related developments. Rates could certainly move back down if a peace deal is achieved soon, but as this week showed, they have no problem moving higher when hopes for a peace deal fade.

Recently Released Economic Data

Time

Event

Period

Actual

Forecast

Prior

Monday, May 11

10:00

Existing home sales (ml)

4.02M

4.05M

3.98M

Tuesday, May 12

8:30

y/y Headline CPI (%)

3.8%

3.7%

3.3%

Wednesday, May 13

8:30

PPI y/y

4.9%

Thursday, May 14

8:30

May/09

Jobless Claims (k)

May/09

211K

205K

200K

8:30

Retail Sales (%)

0.5%

1.7%

Friday, May 15

8:30

NY Fed Manufacturing

19.60

11.00

9:15

Industrial Production (%)

0.7%

0.3%

-0.5%

Tuesday, May 19

10:00

1.4%

1.5%

Wednesday, May 20

14:00

FOMC Minutes

Thursday, May 21

8:30

May/16

Jobless Claims (k)

May/16

209K

210K

211K

8:30

Philly Fed Business Index

-0.4

26.7

Friday, May 22

10:00

Consumer Sentiment (ip)

44.8

48.2

49.8

Event Importance:

Low

Moderate

Important

Very Important

Around the Web

Friday, May 15, 2026

Treasury yields surge as inflation data points to tricky rates path for new Fed chair Warsh

CNBC

Purchase Activity Lifts Mortgage Applications Despite Higher Rates

Mortgage News Daily

April Housing Inflation Data Fills in The Dots That Went Missing During The Government Shutdown

Mortgage News Daily

Servicer Retention Fell in Q1, But Remains at Multi-Year Highs

Mortgage News Daily

Bond bears show their claws

CNBC

Thursday, May 14, 2026

Retail sales up 0.5% in April, as expected

CNBC

Inflation is most ‘pressing risk’ to US economy, Fed’s Schmid says

Reuters

Wednesday, May 13, 2026

US PPI Final Demand for April 1.4% vs 0.5% est. YoY 6.0% vs 4.9% estimate

Investing Live

Residential Construction Input Prices Move Higher In April

Eye on Housing

Minneapolis Fed Pres. Kashkari: Inflation is too high

Investing Live

Tuesday, May 12, 2026

Consumer prices rose 3.8% annually in April, the highest since May 2023

CNBC

Fed’s Goolsbee:Inflation is going the wrong way, not just in oil and tariff related things

Investing Live

Rates matter — but execution matters more.

I call the listing agent on every offer to proactively position your buyer. I’m available 7 days a week because deals don’t happen Monday through Friday. And when needed, we can utilize our “cash-like” offer program to give your buyers a competitive edge in multiple-offer situations.

My goal is simple: make your offers stronger and your escrows smoother.

Average Mortgage Rates

Mortgage News Daily

Freddie Mac

Rate

Change

Points

30YR Fixed

6.87%

+0.06

15YR Fixed

6.38%

+0.03

30YR FHA

6.40%

+0.03

30YR Jumbo

6.92%

+0.02

7/6 SOFR

6.42%

+0.09

30YR VA

6.42%

+0.05

Rate

Change

Points

30YR Fixed

6.78%

-0.10

0.66

15YR Fixed

6.10%

-0.01

0.90

30YR FHA

6.46%

-0.13

0.82

30YR Jumbo

6.73%

-0.15

0.50

7/6 SOFR

5.98%

-0.18

0.88

Rate

Change

Points

30YR Fixed

6.66%

+0.45

0.00

15YR Fixed

5.98%

+0.51

0.00

MBS and Treasury

Price / Yield

Change

UMBS 5.5

98.91

–0.10

UMBS 6.0

101.06

–0.07

10 YR Treasury

4.777

+-0.19

30 YR Treasury

5.272

+-0.44

Pricing as of:

8/31 10:54PM

Recent Housing Data

Value

Change

Mortgage Apps

245.3

-0.97%

4.06M

-0.73%

Builder Confidence

2.94%

Building Permits

1.44M

5.56%

Housing Starts

1.24M

-13.17%

259 W Channel Rd

Source: US Housing Market Weekly — Jay Bridges, Mortgage Lender, Priority Capital Corporation

May 08, 2026 3:06 PM

Wednesday ended up being the most interesting day of the week for rate movement thanks to headlines suggesting The U.S. and Iran were close to signing a one page memo to end the war.

Why a memo?

A more formal peace agreement will be a lot longer than one page and will take a lot more time to hash out. If parties can agree, in principle, on the ultimate details, it allows the war to end immediately rather than wait for the formal agreement.

Why do rates like this news?

Rates are based on bonds. Inflation is bad for bonds (i.e. it pushes rates higher). Higher oil prices contribute to higher inflation. And, of course, the war has been responsible for a huge surge in oil prices. Thus, ending the war should result in relatively lower oil prices, inflation, and rates.

We’ve seen this dynamic play out frequently since the start of the war. It’s easiest to see when we use 10yr Treasury yields as a stand-in for mortgage rates because mortgage rates are only updated 1-3 times a day.

How did mortgage rates react?

Mortgage rates began the week at the highest levels in more than a month. Wednesday singlehandedly took average daily rates back to last Friday’s levels according to MND’s daily rate index. Meanwhile, weekly rate surveys (which don’t capture movement in a timely way) showed rates moving higher.

What about the rest of the week?

This weekly newsletter would normally have quite a lot to say about Friday’s jobs report. The payroll count came in at 115k versus a median forecast of 62k. At almost any other time in history, this would be a surefire recipe for a rapid rate spike to end the week.

But labor market dynamics have been changing in a way that makes the payroll count more of a moving target compared to the unemployment rate (another statistic from the same jobs report), and that came in right in line with expectations at 4.3%.

Labor market dynamics aside, the rate market is simply preoccupied with the war and oil prices. All of the above allowed rates to drift just a hair lower on Friday.

What’s next?

The war will continue as the focal point next week, but there will be more economic data. In some ways, it could be more important that the jobs report because two of the reports will provide an update on inflation for the month of April (the Consumer Price Index on Tuesday and the Producer Price Index on Wednesday).

Recently Released Economic Data

Time

Event

Period

Actual

Forecast

Prior

Tuesday, May 05

10:00

0.682M

0.65M

0.587M

Wednesday, May 06

8:15

ADP jobs (k)

109K

Thursday, May 07

8:30

May/02

Jobless Claims (k)

May/02

200K

205K

189K

11:00

Consumer Inflation Expectations

3.6%

3.4%

Friday, May 08

8:30

Unemployment rate mm (%)

4.3%

8:30

Non Farm Payrolls (k)

115K

178K

10:00

Consumer Sentiment (ip)

48.2

49.5

49.8

Monday, May 11

10:00

Existing home sales (ml)

4.02M

4.05M

3.98M

Tuesday, May 12

8:30

y/y Headline CPI (%)

3.8%

3.7%

3.3%

Wednesday, May 13

8:30

PPI y/y

4.9%

Thursday, May 14

8:30

May/09

Jobless Claims (k)

May/09

211K

205K

200K

8:30

Retail Sales (%)

0.5%

1.7%

Friday, May 15

8:30

NY Fed Manufacturing

19.60

11.00

9:15

Industrial Production (%)

0.7%

0.3%

-0.5%

Event Importance:

Low

Moderate

Important

Very Important

Around the Web

Friday, May 8, 2026

The Federal Reserve is quickly running out of reasons to cut interest rates

CNBC

Higher Rates Hit Mortgage Apps, But Only Modestly

Mortgage News Daily

U.S. payrolls increased 115,000 in April, more than expected; unemployment at 4.3%

CNBC

Thursday, May 7, 2026

Jobless claims rise, productivity misses forecast

CNBC

US construction spending for March 0.6% versus 0.2% estimate

Investing Live

Private Residential Construction Spending Increases in March

Eye on Housing

Wednesday, May 6, 2026

Treasury yields tumble on report of U.S.-Iran peace plan

CNBC

Slight Rise for Open Construction Jobs in March

Eye on Housing

Tuesday, May 5, 2026

Mortgage lenders now have more credit score options. What homebuyers should know

CNBC

Rates matter — but execution matters more.

I call the listing agent on every offer to proactively position your buyer. I’m available 7 days a week because deals don’t happen Monday through Friday. And when needed, we can utilize our “cash-like” offer program to give your buyers a competitive edge in multiple-offer situations.

My goal is simple: make your offers stronger and your escrows smoother.

Average Mortgage Rates

Mortgage News Daily

Freddie Mac

Rate

Change

Points

30YR Fixed

6.87%

+0.06

15YR Fixed

6.38%

+0.03

30YR FHA

6.40%

+0.03

30YR Jumbo

6.92%

+0.02

7/6 SOFR

6.42%

+0.09

30YR VA

6.42%

+0.05

Rate

Change

Points

30YR Fixed

6.78%

-0.10

0.66

15YR Fixed

6.10%

-0.01

0.90

30YR FHA

6.46%

-0.13

0.82

30YR Jumbo

6.73%

-0.15

0.50

7/6 SOFR

5.98%

-0.18

0.88

Rate

Change

Points

30YR Fixed

6.66%

+0.45

0.00

15YR Fixed

5.98%

+0.51

0.00

MBS and Treasury

Price / Yield

Change

UMBS 5.5

98.91

–0.10

UMBS 6.0

101.06

–0.07

10 YR Treasury

4.777

+-0.19

30 YR Treasury

5.272

+-0.44

Pricing as of:

8/31 10:54PM

Recent Housing Data

Value

Change

Mortgage Apps

245.3

-0.97%

4.06M

-0.73%

Builder Confidence

2.94%

Building Permits

1.44M

5.56%

Housing Starts

1.24M

-13.17%

259 W Channel Rd

Source: US Housing Market Weekly — Jay Bridges, Mortgage Lender, Priority Capital Corporation