New home sales weakened further in May, extending the pullback seen over the past several months as elevated mortgage rates and affordability pressures continued to weigh on buyer demand. According to the latest Census Bureau and HUD data, sales of new single-family homes fell to a seasonally adjusted annual rate of 580,000 , down 7.3% from April and 6.8% from a year earlier. Inventory continued to build, with the number of new homes for sale rising to 496,000 , up 2.3% from April, though still 1.4% below May 2025 levels. At the current sales pace, that left months' supply at 10.3 months , up from 9.3 months in April and 9.7 months one year ago. Home prices moved higher in May. The median sales price increased to $424,900 , up 2.0% from April and essentially unchanged from a year earlier. Meanwhile, the average sales price rose sharply to $540,600 , a 7.8% monthly increase and 5.0% above May 2025 levels. While the chart above is potentially alarming at first glance, it's always worth remembering 2 things: 1. New Home Sales data is notoriously choppy month to month, and prone to sometimes significant revisions. 2. Existing Home Sales run at an annual pace over 4 million (compared to New Home Sales at just under 600k), and they've been trending modestly higher in the past few months. 

June 26, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.53% +0.00%   5.99% 6.85% 15 Yr. Fixed 6.12% +0.00%   5.55% 6.25% 30 Yr. Jumbo 6.76% -0.01%   6.1% 6.93% Compare Mortgage Rates from Local Lenders for Jun 26, 2026 Mortgage Rates End Week at Lows Fri, Jun 26, 2026 3:06PM Mortgage rates officially hit their lowest level in more than a month yesterday with MND's 30yr fixed index falling to 6.53% from 6.55% on Wednesday. Today was completely unchanged at 6.53%, thus maintaining the lowest level since May 14th, 2026.  There weren't any dramatic developments behind the scenes in term of economic data or news headlines (not that we'd expect them when rates hold perfectly flat). This week's broader improvement can be attributed to buying demand in the bond market owing to large investors rebalancing their stock/bond portfolios before the end of the quarter. As... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.53% 0.00 0.00 15 Yr. Fixed 6.12% 0.00 0.00 30 Yr. FHA 6.07% -0.03 0.00 30 Yr. Jumbo 6.76% -0.01 0.00 7/6 SOFR ARM 6.23% 0.00 0.00 30 Yr. VA 6.09% -0.03 0.00 Updates Daily - Last Update: 6/26 Freddie Mac Rate Change Points 30 Yr. Fixed 6.49% +0.02 0.00 15 Yr. Fixed 5.84% +0.03 0.00 Updates Weekly - Last Update: 6/25 Mortgage Bankers Assoc. 30 Yr. Fixed 6.59% -0.01 0.63 15 Yr. Fixed 6.02% 0.00 0.69 30 Yr. Jumbo 6.52% -0.10 0.58 Updates Weekly - Last Update: 6/24 UMBS 30YR 5.0 98.72 +0.13   96.76 100.50 UMBS 30YR 5.5 100.65 +0.10   98.96 101.64 10 YR Treasury 4.374 -0.017   3.948 4.668 Sideways Start, Quiet Calendar, Quarter-End Volatility Potential Fri, Jun 26, 2026 10:01AM Q2 has been one of the best quarters for stocks going all the way back to the dot com boom, even after the 4-5% pullback in June. This has created a massive quarter-end rebalancing need among money managers and we've seen that random volatility play out in both stocks and bonds over the past few weeks. As the quarter wraps up in the next 3 business days, thi... (read more) MBS Price Change UMBS 4.5 96.39 +0.08 UMBS 5.0 98.70 +0.11 UMBS 5.5 100.66 +0.11 GNMA 4.5 96.60 +0.16 GNMA 5.0 99.03 +0.10 GNMA 5.5 100.73 +0.10 Pricing as of: 6/26 3:43PM EST US Treasury Yield Change 2 YR Treasury 4.084 -0.043 5 YR Treasury 4.128 -0.039 7 YR Treasury 4.239 -0.019 10 YR Treasury 4.372 -0.020 30 YR Treasury 4.864 +0.000 Pricing as of: 6/26 3:43PM EST Other News New Home Sales Slide to Multi-Year Lows Fri, Jun 26, 2026 2:58PM New home sales weakened further in May, extending the pullback seen over the past several months as elevated mortgage rates and affordability pressures continued to weigh on buyer demand. According to the latest Census Bureau and HUD data, sales of new single-family homes fell to a seasonally adjusted annual rate of 580,000 , down 7.3% from April and 6.8... (read more) Mortgage Applications Edge Higher Despite Elevated Rates Fri, Jun 26, 2026 2:55PM Mortgage applications posted a modest increase last week, though overall activity remained subdued by historical standards as borrowing costs held relatively steady. The Mortgage Bankers Association (MBA) reported a 1.0% increase in total application volume on a seasonally adjusted basis for the week ending June 19. Refinance activity provided most of the... (read more) Credit and Verification, AI Compliance, CRA Sourcing Tools; Housing Bill Stalls; HMDA Data; Inflation Hopes and Rates Fri, Jun 26, 2026 11:10AM We know that a) Congress passed a housing bill which, if not signed within 10 days, becomes law anyway, and b) U.S. presidents are known to be candid. Once again, we see the intersection of housing, lending, and politics with not only the postponement by the President of signing the bill, but also the statement of his alleged opinion about housing. The signi... (read more) Latest Video Marcus & Millichap CEO: Housing bill won't have a significant impact on hou... New home sales decline in May Sen. Blunt Rochester on bipartisan housing bill: Over 40 provisions will at... Watch CNBC's full interview with White House National Economic Council Dire... 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