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: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for May 14, 2025 Mortgage Rates Rising Closer to 7% Wed, May 14, 2025 4:26PM 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 fi... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 Where is The Next Move Coming From? Wed, May 14, 2025 11:13AM 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 normal. Bonds will always move based on a combination of factors. Some are obvious and basic. Others are exce... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 9:34AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 9:34AM EST Other News Non-QM, Automatic Admin, Due Diligence Tools; M&A for Lenders and Vendors Wed, May 14, 2025 11:51AM 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 pro-Trump view of the recent tariff activity, and how the changes may impact mortgage rates. But China made no c... (read more) 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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