In early April, amid the most volatile portion of the market's reaction to the tariff announcement, mortgage rates were officially over 7% for a single day. By the middle of the following week, they were well on their way lower, ultimately ending the month just over 6.8%. Since then, it's been tough sledding for bonds and the rate market. Almost every day in the month of May has been a bad one.  Even if the size of the rate increases have been reasonably small, they're starting to add up.  Now today, the average lender is back on the doorstep of 7% for top tier conventional 30yr fixed mortgage rates.  A second wave of weakness in the bond market this afternoon is resulting in many lenders announcing mid-day increases.  With that, today's index ended up at 6.99%--all this despite an absence of any standout individual motivations in today's news. Tomorrow brings a slew of important economic reports.  If they come in stronger than expected, rates could face additional upward pressure.  If they're weaker, markets may dismiss them as stale data that was overly influenced by tariff-related uncertainty that has since improved. 

May 14, 2025 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Rising Closer to 7% In early April, amid the most volatile portion of the market's reaction to the tariff announcement, mortgage rates were officially over 7% for a single day. By the middle of the following week, they were well on their way lower, ultimately ending the... (read more) MBS Commentary Where is The Next Move Coming From? It's a potentially frustrating time for bond watchers. The rules have already changed in a big way to accommodate the new wild card presented by tariff policy, and it seems like there have been far more "fine tuning" tweaks to those rules than n... (read more) Rob Chrisman Non-QM, Automatic Admin, Due Diligence Tools; M&A for Lenders and Vendors As Roy Cohn once instructed a young Donald Trump, much can be accomplished by attacking first and dealing with the consequences later. I get opinions from both sides: “Rob, when are you going to wise up? Yesterday’s Commentary discussed a lopsided pr... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.94% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.94% -0.05 0.00 15 Yr. Fixed 6.31% -0.03 0.00 30 Yr. FHA 6.40% -0.04 0.00 30 Yr. Jumbo 7.08% -0.02 0.00 7/6 SOFR ARM 6.55% -0.08 0.00 30 Yr. VA 6.41% -0.04 0.00 Updates Daily - Last Update: 5/15 15 Yr. Fixed Rate 6.31% -0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.81% +0.05 0.00 15 Yr. Fixed 5.92% +0.03 0.00 Updates Weekly - Last Update: 5/15 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.86% +0.02 0.68 15 Yr. Fixed 6.12% -0.05 0.59 30 Yr. Jumbo 6.85% -0.01 0.49 Updates Weekly - Last Update: 5/14 MBS / Treasuries UMBS 30YR 5.5 98.92 +0.03 Price / Yield Change MBS UMBS 5.5 98.92 +0.03 UMBS 6.0 100.88 +0.03 GNMA 5.5 99.20 +0.02 GNMA 6.0 100.95 +0.02 Pricing as of: 5/16 1:50AM EST 10 Year US Treasury 4.4247 -0.0063 Price / Yield Change US Treasury 2 YR Treasury 3.949 -0.025 5 YR Treasury 4.043 -0.012 7 YR Treasury 4.229 -0.018 10 YR Treasury 4.425 -0.006 30 YR Treasury 4.884 -0.007 Pricing as of: 5/16 1:50AM EST Latest Video Homebuyer mortgage demand recovers after tough April Zillow Group CEO: The housing market remains a challenge for buyers GOP comprehensive tax plan unveiled. Here's a breakdown Too early to tell if trade news has impacted Fed trajectory, says former Fe... Around the Web CNBC Mortgage demand from homebuyers continues to recover, even with higher interest rates CNBC House Republicans advance Trump's tax bill but 'SALT' deduction still undecided Calculated Risk Blog Part 2: Current State of the Housing Market; Overview for mid-May 2025 Federal Reserve Jefferson, Economic Outlook Calculated Risk Blog Q1 NY Fed Report: Mortgage Originations by Credit Score, Delinquencies Increase, Foreclosures Increase Forex Live Fed's Jefferson: Current policy is a good place to respond to economic developments CNBC As student loan default rate spikes, some borrowers face 'grave consequences,' New York Fed says Eye on Housing Permit Activity Declines in March 2025 Eye on Housing Residential Mortgages Experience Weaker Demand in First Quarter MBA Mortgage Delinquencies Increase Slightly in the First Quarter of 2025 Federal Reserve Waller, The Role of Economic Research in CentralBanking Calculated Risk Blog Cleveland Fed: Median CPI increased 0.3% and Trimmed-mean CPI increased 0.2% in April CNBC Treasury yields move lower as investors weigh the state of the U.S. economy

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