http://www.mortgagenewsdaily.com/newsletter/n Mortgage Newsletters Archive https://www.mortgagenewsdaily.com/newsletter/n/20260608 Mon, 08 Jun 2026 04:00:00 GMT Mon, 08 Jun 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260608 The average top-tier 30yr fixed mortgage rate rose 0.08% last Friday after the jobs report came in much stronger than expected. Today added another 0.02% of upward movement. Today's level of 6.68% is the 3rd highest of the past 9 months. Unlike Friday, there were no big-ticket economic reports driving volatility in rate markets. The only arguable cause and effect was seen earlier in the morning surrounding war-related headlines. These actually helped rates start the day lower than they otherwise would have. As the week continues, investors will remain tuned in to war-related developments as well as an important inflation report on Wednesday morning (the Consumer Price Index or "CPI"). Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260605 Fri, 05 Jun 2026 04:00:00 GMT Fri, 05 Jun 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260605 Mortgage applications eased again last week even as borrowing costs moved lower, suggesting that modest rate relief was not enough to bring borrowers back in force. The Mortgage Bankers Association (MBA) reported a 2.5% decrease in total application volume on a seasonally adjusted basis for the week ending May 29. The decline was led by refinance activity, which slipped 2% from the previous week. Refinance demand remained 20% higher than the same period one year ago, however, underscoring that activity is still running above 2025’s pace even as it softens week to week. Purchase demand also pulled back, though the move was more modest. The seasonally adjusted Purchase Index fell 3% week over week and was still 7% above year-ago levels. The average 30-year fixed mortgage Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260604 Thu, 04 Jun 2026 04:00:00 GMT Thu, 04 Jun 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260604 After hitting long-term highs on May 19th, mortgage rates dropped somewhat quickly by May 26th. Ever since then, they've been moving back and forth in a very narrow range. Today's movement happened to be the good kind with the average lender cutting top-tier 30yr fixed rates by 0.03%. As always, keep in mind that mortgages are most commonly offered in 0.125% increments. When our daily rate index changes by only 0.03%, it's because we are also measuring the underlying costs associated with any given rate and extrapolating the relative impact on interest rates . To use a crude example, let's consider two different hypothetical rate quote options yesterday and today. Yesterday 6.625% at a cost of $12 upfront 6.50% at a cost of $24 upfront Today 6.625% at Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260603 Wed, 03 Jun 2026 04:00:00 GMT Wed, 03 Jun 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260603 Imagine being stuck at home watching TV for 3 months and only being able to stream one show. That's been the case for the bond market (which dictates interest rates ) since the beginning of March. The show in question involves watching war-related headlines and reacting in roughly the same manner as oil prices. Today's episode was more interesting than yesterday's. Key details included reports of Iranian missile strikes on various U.S. and allied targets. In general, rates have improved on news that increases the odds of a peace deal. Unsurprisingly, today's headlines (technically, yesterday night, but reflected in today's rate movement) did the opposite. Thanks to headline fatigue and desensitization, the rate market has been responding with less volatility over the past few weeks Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260602 Tue, 02 Jun 2026 04:00:00 GMT Tue, 02 Jun 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260602 It was an uneventful day for the bond market and, thus, mortgage rates . Unlike the average trading day of late, there were no conspicuous war-related headlines making for shocks to oil prices. Since the start of the war, interest rates have had a strong correlation with oil prices due to inflation implications. That correlation was present today, but oil moved lower and higher well inside yesterday's range.  Top tier 30yr fixed rates fell from 6.60 to 6.57% for the average lender. This is very close to the lowest level in more than 2 weeks (6.56% seen last Friday). Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260601 Mon, 01 Jun 2026 04:00:00 GMT Mon, 01 Jun 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260601 Following last week's relatively strong move to the lowest levels since May 14th, mortgage rates bounced slightly higher to start the news week. The move followed a clear shift in the Iran war news cycle with morning headlines citing Iranian officials saying the peace negotiation were effectively tabled as long as hostilities remained between Israel and Lebanon. As a refresher, the Iran war is bad for rates primarily due to the actual and implied impact on inflation due to higher fuel costs. Bonds dictate rates and bonds hate inflation. There was an immediate and moderately sharp reaction in both oil prices and bonds right when this morning's news came out. Fortunately, the damage was fairly mild for mortgage rates with the average lender moving up 0.04% to 6.60% for a top tier 30 Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260529 Fri, 29 May 2026 04:00:00 GMT Fri, 29 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260529 New home sales pulled back in April after stronger readings in the prior two months. According to the latest Census Bureau and HUD data, sales of new single-family homes fell to a seasonally adjusted annual rate of 622,000 , down 6.2% from March and 11.3% from a year earlier. Inventory moved slightly higher, with the number of new homes for sale rising to 489,000 , up 1.7% from March but still 2.2% below April 2025 levels. At the current sales pace, that left months’ supply at 9.4 months , up from 8.7 months in March and 8.6 months one year ago. Pricing was mixed. The median sales price climbed to $422,500 , up 8.0% from March and 2.2% from a year earlier. The average sales price ticked up to $508,800 , a modest 0.7% monthly gain, though it remained 1.1% Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260528 Thu, 28 May 2026 04:00:00 GMT Thu, 28 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260528 We were close yesterday and we officially arrived today. Mortgage rates may still be elevated compared to almost all of the past 10 months, but they're the lowest they've been since May 14th.  This was accomplished with a modest drop versus yesterday's levels after another round of news on a potential U.S./Iran peace deal. This morning's inflation data also helped the underlying bond market find its footing. In terms of nuts and bolts, top tier 30yr fixed rates fell to 6.59% for the average lender, down from 6.61% yesterday and from 6.75% last Tuesday. [thirtyyearmortgagerates] Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260527 Wed, 27 May 2026 04:00:00 GMT Wed, 27 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260527 Early in the trading session, the bond market began improving in response to more updates on a potential Iran peace deal. When bonds improve, rates fall, but the initial reaction proved short-lived.  Thankfully, the reversal didn't do any new damage. This allowed the average lender to keep rates right in line with yesterday's 6.61% for a top-tier 30 year fixed. You'd have to go back to May 14th to see anything lower. Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260526 Tue, 26 May 2026 04:00:00 GMT Tue, 26 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260526 Although mortgage rates are still relatively close to their highest levels in 9 months, they continue moving lower after hitting those highs as the beginning of last week. Today's improvement follows news over the weekend that the U.S. and Iran are even closer to agreeing on a framework that would end the war. The war remains a key source of volatility for rates and other financial markets. In general, escalation and/or delays in the peace process are bad for rates. De-escalation and improved peace prospects are good for rates. While none of the news of the past 48 hours guarantees a speedy end to hostilities, the market viewed it as a step in the right direction. Top tier 30yr fixed mortgage rates fell 0.04% for the average lender to hit 6.61%. Last Monday's level was 6.75%. Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter