Mortgage rates jumped higher today at the fastest pace in weeks to the highest levels since March 30th. There were two key motivations for the increase, but one accounted for a vast majority of the damage. News came out overnight that spoke to the possibility of a prolonged blockade of the Strait of Hormuz. Markets took this seriously because it involved conversations with oil executives to assess the the impact of a prolonged blockade on domestic energy markets and fuel prices. Bond yields (which correlate with rates) and oil prices lurched higher again this morning after a White House official reiterated/corroborated the overnight news. The supporting actor in today's rate drama was the Fed announcement. While the Fed didn't hike rates, 3 voters voiced their opposition to the wording of the Fed's statement because it tacitly implies the Fed is more inclined to cut rates vs hike them in the near future. Those 3 voters would prefer to indicate that rates could go either way depending on inflation and the economy. The market took this as a minor negative indication for rates. Measuring in terms of 10-year Treasury yields, more than 80% of today's rate spike was in place before the Fed announcement came out. The average mortgage lender is back to 6.50% for top tier 30-year fixed scenarios, up from 6.38% yesterday. Most lenders made mid-day adjustments to even higher rates as the underlying bond market continued to suffer into the afternoon. 

April 29, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.50% +0.12%   5.99% 7.08% 15 Yr. Fixed 6.03% +0.09%   5.55% 6.39% 30 Yr. Jumbo 6.60% +0.08%   6.1% 7.15% Compare Mortgage Rates from Local Lenders for Apr 29, 2026 Mortgage Rates Surge Higher as US Considers a Longer Blockade Wed, Apr 29, 2026 4:09PM Mortgage rates jumped higher today at the fastest pace in weeks to the highest levels since March 30th. There were two key motivations for the increase, but one accounted for a vast majority of the damage. News came out overnight that spoke to the possibility of a prolonged blockade of the Strait of Hormuz. Markets took this seriously because it involved conversations with oil executives to assess the the impact of a prolonged blockade on domestic energy markets and fuel prices. Bond yields (which correlate with rates) and oil prices lurched higher again this morning after a White House offic... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.50% +0.12 0.00 15 Yr. Fixed 6.03% +0.09 0.00 30 Yr. FHA 6.00% +0.07 0.00 30 Yr. Jumbo 6.60% +0.08 0.00 7/6 SOFR ARM 6.12% +0.12 0.00 30 Yr. VA 6.02% +0.07 0.00 Updates Daily - Last Update: 4/29 Freddie Mac Rate Change Points 30 Yr. Fixed 6.23% -0.07 0.00 15 Yr. Fixed 5.58% -0.07 0.00 Updates Weekly - Last Update: 4/23 Mortgage Bankers Assoc. 30 Yr. Fixed 6.35% -0.07 0.61 15 Yr. Fixed 5.75% -0.10 0.69 30 Yr. Jumbo 6.43% -0.05 0.45 Updates Weekly - Last Update: 4/22 UMBS 30YR 5.0 98.59 +0.24   95.71 100.50 UMBS 30YR 5.5 100.55 +0.17   98.11 101.64 10 YR Treasury 4.391 -0.040   3.948 4.590 Here's What Changed in The New Fed Announcement Wed, Apr 29, 2026 2:00PM Available Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, on average, and the unemployment rate has been little changed in recent months. Inflation remains somewhat elevated. is elevated, in part reflecting the recent increase in global energy prices. The Committee seeks to achieve m... (read more) More Losses After Blockade Extension News Wed, Apr 29, 2026 9:31AM Last night's key news on the war involved reports of Trump telling aides to prepare for a prolonged blockade of Iran. The free flow of oil through Hormuz is the key market mover in this war, so it's no surprise to see oil prices lurch higher in response. Bond yields followed but have managed to hold under yesterday morning's highs so far. This morning's econ... (read more) MBS Price Change UMBS 4.5 96.23 +0.25 UMBS 5.0 98.57 +0.23 UMBS 5.5 100.54 +0.17 GNMA 4.5 96.51 +0.21 GNMA 5.0 99.22 +0.20 GNMA 5.5 100.74 +0.15 Pricing as of: 4/30 8:27AM EST US Treasury Yield Change 2 YR Treasury 3.893 -0.064 5 YR Treasury 4.030 -0.050 7 YR Treasury 4.213 -0.039 10 YR Treasury 4.395 -0.036 30 YR Treasury 4.985 -0.019 Pricing as of: 4/30 8:27AM EST Other News CRM, Verification, AI, MERS Review, Credit Monitoring Tools; Disaster Updates; STRATMOR CD Workshop Wed, Apr 29, 2026 11:17AM Broker and Correspondent Products NFTYDoor, an end-to-end digital HELOC platform, announced last week it 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 peri... (read more) Latest Video Fed Chair Powell: Committed to sustainably bringing inflation down to 2% March durable goods orders, housing starts come in higher than expected Fed in 'neutral' as consumers are feeling okay but not great: The Conferenc... Fed Chair Powell: Expect tariff price increases to fall in the next two qua... Around the Web CNBC Fed holds rates steady but with highest level of dissent since 1992 CNBC Jerome Powell says he will continue to serve as a Fed governor even after chairmanship ends CNBC Trump Fed pick Kevin Warsh clears key Senate hurdle, teeing up final vote CNBC Mortgage rates are rising again, but homebuyers are trickling back Reuters Trump urges Iran to sign a deal after report suggests US may extend blockade Investing Live US March housing starts 1.502m vs 1.400m expected Investing Live US Case-Shiller February 20-city house price index -0.1% m/m vs +0.2% expected PR Newswire US Consumer Confidence Edged Up Again in April CNBC Treasury yields little changed as investors await Fed decision Investing Live US March Trade advanced goods trade balance -$87.8B versus $-86.95 billion estimate Investing Live ADP weekly NER Pulse 39,250 vs 54,750 expected CNBC Treasury yields rise as U.S.-Iran peace talks hit an impasse FHFA FHFA House Price Index Unchanged in February; Up 1.7 Percent from Last Year

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