One popular refrain in the mortgage industry is that rates take the escalator on the way up and the stairs on the way down. Yesterday was definitely an "escalator" sort of day with the average lender moving up 0.12% for a top-tier 30yr fixed rate. Based on improvement in the bond market, rates are lower today, but just barely. It's not so much that rates are taking the stairs down, but more like they're a small child, waiting at the top of the staircase--afraid to take that first step. Some lenders are not even lower compared to yesterday's levels. Others are only modestly better. The absence of better improvement is at least partly attributable to the slower movement in the underlying bond market. Specifically, today's bond rally (good for rates) is less than one third the size of yesterday's sell-off (bad for rates).

May 5, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.54% -0.02%   5.99% 7.08% 15 Yr. Fixed 6.04% -0.01%   5.55% 6.39% 30 Yr. Jumbo 6.63% +0.01%   6.1% 7.15% Compare Mortgage Rates from Local Lenders for May 5, 2026 Mortgage Rates Edge Just Barely Lower Tue, May 5, 2026 2:43PM One popular refrain in the mortgage industry is that rates take the escalator on the way up and the stairs on the way down. Yesterday was definitely an "escalator" sort of day with the average lender moving up 0.12% for a top-tier 30yr fixed rate. Based on improvement in the bond market, rates are lower today, but just barely. It's not so much that rates are taking the stairs down, but more like they're a small child, waiting at the top of the staircase--afraid to take that first step. Some lenders are not even lower compared to yesterday's levels. Others are only modestly better. The absenc... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.54% -0.02 0.00 15 Yr. Fixed 6.04% -0.01 0.00 30 Yr. FHA 6.02% -0.01 0.00 30 Yr. Jumbo 6.63% +0.01 0.00 7/6 SOFR ARM 6.25% +0.01 0.00 30 Yr. VA 6.04% -0.01 0.00 Updates Daily - Last Update: 5/5 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% +0.07 0.00 15 Yr. Fixed 5.64% +0.06 0.00 Updates Weekly - Last Update: 4/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.37% +0.02 0.61 15 Yr. Fixed 5.77% +0.02 0.63 30 Yr. Jumbo 6.45% +0.02 0.38 Updates Weekly - Last Update: 4/29 UMBS 30YR 5.0 98.58 +0.28   95.71 100.50 UMBS 30YR 5.5 100.49 +0.16   98.11 101.64 10 YR Treasury 4.386 -0.039   3.948 4.590 Modest Recovery Ahead of Econ Data Tue, May 5, 2026 9:37AM After hitting the highest yields in more than a month yesterday, bonds have managed to pick up a few bps. The bulk of the recovery was already in place by yesterday's close, but yields dropped another 2bps after war-related headlines just after 8am (US general said Iran's attacks yesterday were below the threshold for war). Oil prices and bond yields continu... (read more) MBS Price Change UMBS 4.5 96.22 +0.23 UMBS 5.0 98.50 +0.20 UMBS 5.5 100.47 +0.14 GNMA 4.5 96.39 +0.19 GNMA 5.0 99.20 +0.16 GNMA 5.5 100.76 +0.15 Pricing as of: 5/6 4:10AM EST US Treasury Yield Change 2 YR Treasury 3.907 -0.035 5 YR Treasury 4.038 -0.040 7 YR Treasury 4.209 -0.041 10 YR Treasury 4.382 -0.043 30 YR Treasury 4.953 -0.034 Pricing as of: 5/6 4:10AM EST Other News Ginnie Guide, Borrower Marketing, e-Note Products; AI Webcast; Advocacy Week Approaching Tue, May 5, 2026 11:20AM Broker and Correspondent Products NFTYDoor, an end-to-end digital HELOC platform, is now operating as a fully independent company, enabling direct partnerships with wholesale brokers and private label correspondents. Brokers are already active on the new structure, submitting applications and closing loans today with no waiting period supported by NFTYDoor... (read more) Latest Video Job openings and labor turnover comes in at 6.86 million; new home sales ri... Benjamin Moore CEO on the housing market and consumer demand April Services PMI revised down to 51.0, missing estimates Iran threatens U.S. forces in Strait of Hormuz after Trump launches mission... Around the Web Census.gov New-Home Sales Surge in March as Prices Fall to a 5-Year Low NAR Home Prices Increased in 71% of Metro Areas in First Quarter of 2026 CNBC Mortgage lenders now have more credit score options. What homebuyers should know Investing Live JOLTs job openings 6.866M vs 6.835M estimate US Treasury Treasury Announces Marketable Borrowing Estimates Atlanta Fed Atlanta Fed GDPNow growth estimate 3.7% Investing Live Fed's Williams: Trims his GDP forecast and boosts inflation view CNBC UAE says it intercepted Iranian missiles for first time since ceasefire began CNBC Treasury yields ease as investors assess Iran war's impact on economic outlook PR Newswire Services PMI® at 53.6%; April 2026 ISM® Services PMI® Report S&P Global S&P Global US Services PMI Investing Live US March factory orders surge +1.5%, versus +0.5% consensus as core capex revised higher Investing Live US international trade for March -$60.3B vs -$60.9B estimate

© 2026  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.