Wednesday brought some much-needed relief for the mortgage market after rates surged to new 9 month highs of 6.75% yesterday. Whereas that rate spike was decoupled from the prevailing narrative of war-related headlines, today's recovery was quite the opposite. Newswires came out shortly after 10am ET that suggested the U.S. and Iran are nearing a final draft of a peace agreement. While such news has been prone to correction and revision, the market was nonetheless willing to respond quickly and rather forcefully. Oil prices dropped sharply with Treasury yields in tow. In the bond market, "yield" is another word for "rate." And because mortgage pricing is directly dictated by mortgage-specific bonds, when yields are falling, mortgage rates will almost always be falling as well. The average lender fully erased yesterday's rate spike, ultimately making it back below the levels seen on Monday afternoon. Granted, Monday's levels were still the highest in many months at the time, but we have to start somewhere. At the very least, today's market movement reiterates the fact that rates will likely make an even better recovery when the war is officially over. [thirtyyearmortgagerates]

May 20, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.67% -0.08%   5.99% 7.08% 15 Yr. Fixed 6.22% -0.03%   5.55% 6.39% 30 Yr. Jumbo 6.75% -0.01%   6.1% 7.15% Compare Mortgage Rates from Local Lenders for May 20, 2026 Mortgage Rates Recover All of Yesterday's Losses Wed, May 20, 2026 2:58PM Wednesday brought some much-needed relief for the mortgage market after rates surged to new 9 month highs of 6.75% yesterday. Whereas that rate spike was decoupled from the prevailing narrative of war-related headlines, today's recovery was quite the opposite. Newswires came out shortly after 10am ET that suggested the U.S. and Iran are nearing a final draft of a peace agreement. While such news has been prone to correction and revision, the market was nonetheless willing to respond quickly and rather forcefully. Oil prices dropped sharply with Treasury yields in tow. In the bond market, "yi... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.67% -0.08 0.00 15 Yr. Fixed 6.22% -0.03 0.00 30 Yr. FHA 6.22% -0.03 0.00 30 Yr. Jumbo 6.75% -0.01 0.00 7/6 SOFR ARM 6.33% -0.15 0.00 30 Yr. VA 6.24% -0.03 0.00 Updates Daily - Last Update: 5/20 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 +0.62   95.71 100.50 UMBS 30YR 5.5 99.67 +0.46   98.11 101.64 10 YR Treasury 4.573 -0.095   3.948 4.660 Bleeding Subsides For Now, Headlines Helping But Bonds Remain Cautious Wed, May 20, 2026 10:24AM Tuesday's massive wave of bond-specific weakness still has the analytical community scratching its collective head. Our contacts are either saying nothing or telling us they're just as perplexed. So far this morning, there hasn't been any sort of repeat performance.  Lower oil prices have helped bonds find their footing, but the move has relied on ... (read more) MBS Price Change UMBS 4.5 94.98 +0.70 UMBS 5.0 97.42 +0.62 UMBS 5.5 99.67 +0.46 GNMA 4.5 95.17 +0.58 GNMA 5.0 97.87 +0.46 GNMA 5.5 99.94 +0.32 Pricing as of: 5/20 3:43PM EST US Treasury Yield Change 2 YR Treasury 4.040 -0.078 5 YR Treasury 4.226 -0.098 7 YR Treasury 4.395 -0.103 10 YR Treasury 4.573 -0.095 30 YR Treasury 5.117 -0.063 Pricing as of: 5/20 3:43PM EST Other News TPO Non-QM, Vendor Strategy, Cybersecurity Tools; NY Conference Talk; Fed Raise Coming? Wed, May 20, 2026 11:43AM Here in New York, as over a thousand of us head to airports (hopefully avoiding manholes… tragic), the mood has been pragmatic. Not overly optimistic, not somber, just realistic. No one is arguing that the war hasn’t driven up worldwide oil prices, impacting inflation and borrower psychology, impacting lending. The Mortgage Bankers Association now predicts a... (read more) Latest Video Average 30-year fixed mortgage rate rises to 6.75% Why Japanese homebuilders are targeting the U.S. housing market Pending home sales rose 1.4% in April Homebuilder sentiment improves on late spring surge in demand Around the Web Federal Reserve Minutes of the Federal Open Market Committee Investing Live Trump: US in final stages in talks with Iran CNBC Rising mortgage rates cause surge in demand for riskier loans CNBC U.S. crude oil falls below $100 per barrel after Trump says Iran talks in final stages Investing Live US sells $16 billion of 20 year bonds at a high yield of 5.122% CNBC Fed officials see rate hike ahead if inflation stays elevated, minutes show CNBC Breakthrough agreement in housing bill gives investors wins CNBC U.S. Treasury sell-off eases, traders eye highest 30-year yield since 1999 CNBC U.S. Treasury yields inch lower as bond markets price 'significant' inflation risk NAR NAR Pending Home Sales Report Shows 1.4% Increase in April Eye on Housing Who Drives Remodeling Spending? Investing Live Fed's Goolsbee; Inflation has got to be front of mind when Warsh starts as chair Investing Live ADP Weekly NER pulse 42.25K vs 33K last week

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