Mortgage rates are driven by bonds and the bond market hoped to see more evidence of shift toward peace during the 2-day Trump/Xi meeting in China. As soon as Trump got back on the plane to head home, bonds began tanking (i.e. jumping to higher yields). When bond yields spike, mortgage rates follow, and today is no exception. The average top-tier 30yr fixed rate is up to 6.62% this morning, right in line with levels seen on March 26th and 27th and the highest since August 1st. If there's a silver lining, it's that mortgage rates aren't higher. Much of the credit goes to the ramp in purchases of mortgage-backed debt by Fannie and Freddie. The more mortgage debt they buy, the better it is for mortgage rates relative to benchmarks like U.S. Treasuries. For instance, Treasuries are now well above the levels seen in late March and in line with levels from the first half of 2025 when mortgage rates were 7% instead of 6.62%.

May 15, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.62% +0.10%   5.99% 7.08% 15 Yr. Fixed 6.09% +0.05%   5.55% 6.39% 30 Yr. Jumbo 6.68% +0.03%   6.1% 7.15% Compare Mortgage Rates from Local Lenders for May 15, 2026 Mortgage Rates Surge Toward 8-Month Highs Fri, May 15, 2026 12:40PM Mortgage rates are driven by bonds and the bond market hoped to see more evidence of shift toward peace during the 2-day Trump/Xi meeting in China. As soon as Trump got back on the plane to head home, bonds began tanking (i.e. jumping to higher yields). When bond yields spike, mortgage rates follow, and today is no exception. The average top-tier 30yr fixed rate is up to 6.62% this morning, right in line with levels seen on March 26th and 27th and the highest since August 1st. If there's a silver lining, it's that mortgage rates aren't higher. Much of the credit goes to the ramp in purchases... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.62% +0.10 0.00 15 Yr. Fixed 6.09% +0.05 0.00 30 Yr. FHA 6.15% +0.16 0.00 30 Yr. Jumbo 6.68% +0.03 0.00 7/6 SOFR ARM 6.47% +0.18 0.00 30 Yr. VA 6.17% +0.16 0.00 Updates Daily - Last Update: 5/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.36% -0.01 0.00 15 Yr. Fixed 5.71% -0.01 0.00 Updates Weekly - Last Update: 5/14 Mortgage Bankers Assoc. 30 Yr. Fixed 6.46% +0.01 0.63 15 Yr. Fixed 5.83% 0.00 0.68 30 Yr. Jumbo 6.48% +0.01 0.55 Updates Weekly - Last Update: 5/13 UMBS 30YR 5.0 97.42 -0.70   95.71 100.50 UMBS 30YR 5.5 99.72 -0.49   98.11 101.64 10 YR Treasury 4.588 +0.103   3.948 4.590 Highest Yields in a Year After Trump/Xi Summit Fri, May 15, 2026 9:19AM Far too many market participants were apparently hoping that some sort of positive news on the war would be somehow facilitated by the Trump/Xi summit over the past 2 days. But talks wrapped up in the overnight session with little to show for it. There was actually very little notable discussion about the war. Both parties want it to end, but China does not ... (read more) MBS Price Change UMBS 4.5 94.93 -0.74 UMBS 5.0 97.43 -0.69 UMBS 5.5 99.74 -0.47 GNMA 4.5 95.23 -0.85 GNMA 5.0 98.30 -0.53 GNMA 5.5 100.22 -0.34 Pricing as of: 5/15 2:31PM EST US Treasury Yield Change 2 YR Treasury 4.077 +0.056 5 YR Treasury 4.250 +0.099 7 YR Treasury 4.416 +0.104 10 YR Treasury 4.585 +0.100 30 YR Treasury 5.118 +0.087 Pricing as of: 5/15 2:31PM EST Other News HELOC, DPA, U/W Fees Waived Products; Delinquencies Edge Higher; Conv. Conforming Changes Fri, May 15, 2026 10:57AM As the legal and proxy battles are waged among Two Harbors, UWM, and CrossCountry, today I head to New York for the MBA's Secondary & Capital Markets Conference. John Wooden said, “Failing to prepare is preparing to fail” and across the land, over a thousand people are avoiding failure by preparing, lining up sessions, meetings, and hallway chats, along ... (read more) Latest Video Former St. Louis Fed Pres. Bullard on Kevin Warsh: All Fed chairs get teste... Fed's Collins: Sees some scenario where the Fed could be tightening Wholesale inflation jumps 6% in April on annual basis, biggest increase sin... Retail sales up 0.5% in April, as expected Around the Web Eye on Housing Single-Family Permits Continue to Weaken in Early 2026 NY Fed NY Fed manufacturing index for May 19.6 vs 7.5 estimate CNBC Treasury yields surge as inflation data points to tricky rates path for new Fed chair Warsh Investing Live Fed's Barr warns shrinking balance sheet via liquidity cuts risks stability Federal Reserve Stephen I. Miran submits his resignation as a member of the Federal Reserve Board CNBC Bond market believes Fed behind the curve on inflation as Warsh takes over CNBC Stephen Miran exits the Fed. How he set the stage for Kevin Warsh. Reuters Inflation is most 'pressing risk' to US economy, Fed's Schmid says Investing Live US weekly initial jobless claims 211K vs 205K expected Breaking The News US retail sales up by 0.5% in April Census.gov Advance Monthly Sales for Retail and Food Services Investing Live US business inventories for March 0.9% versus 0.8% estimate. NY Fed US NY Fed GDP Nowcast Q2: 2.61% (prev 2.59%)

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