http://www.mortgagenewsdaily.com/newsletter/n Mortgage Newsletters Archive https://www.mortgagenewsdaily.com/newsletter/n/20260512 Tue, 12 May 2026 04:00:00 GMT Tue, 12 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260512 When the Iran war was in its initial escalation phase, the initial surge in markets took the top-tier 30yr fixed rate to 6.64% for the average lender by March 27th. Rates moved more than 0.30% lower by mid April as peace prospect improved.  The third phase of rate movement began in late April and has generally involved a jump back up toward 6.5% with the first 2 days of the present week accounting for a move from 6.42% to 6.56%. That matches the highest level seen since March 27th. Bonds yields (which underlie rates) have followed longer-term oil prices to their highest recent levels as Trump said the U.S. is not in a hurry to end the war.  [thirtyyearmortgagerates] Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260511 Mon, 11 May 2026 04:00:00 GMT Mon, 11 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260511 Last week was decidedly stronger for mortgage rates as they either held steady or moved lower on 5 out of 5 days. All told, it was a 0.14% drop from the previous week in terms of the average top-tier 30yr fixed rate.  The new week is starting out in opposite fashion with rates moving up 0.07% today alone. This follows news over the weekend that Trump rejected Iran's counterproposal to end the war. In general, the longer the war continues, the higher oil prices will remain.  Oil price don't dictate rates, but there's currently a lot of correlation due to inflation implications. Oil naturally impacts the cost to ship goods, so a rapid spike in oil prices increases inflation. Rates are based on bonds, and bonds hate inflation. In fact, inflation is technically a component of bond yie Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260508 Fri, 08 May 2026 04:00:00 GMT Fri, 08 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260508 Mortgage applications declined last week, reversing some of the prior period’s gains as rates climbed to their highest level in a month. The Mortgage Bankers Association (MBA) reported a 4.4% decrease on a seasonally adjusted basis for the week ending May 1. The decline was broad-based, with both purchase and refinance activity moving lower. The Refinance Index fell 5% from the previous week but remained 29% higher than the same week one year ago. Meanwhile, the seasonally adjusted Purchase Index decreased 4% week over week and was still 5% above last year’s level. In the bigger picture, purchase apps remain closer to the highest levels of the past few years. The average 30-year fixed mortgage rate increased to 6.45% from 6.37%, marking the highest reading Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260507 Thu, 07 May 2026 04:00:00 GMT Thu, 07 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260507 The day began on a fairly hopeful note for the mortgage market. During overnight trading hours, the bond market improved following a report regarding a peace framework sent to Iran by The U.S.  When bonds improve, rates fall, all else equal. The gains were modest, but they allowed the average lender to set their first rates of the day at slightly lower levels compared to yesterday. Lenders prefer a "one and done" strategy when it comes to setting mortgage rates for the day, but they will make mid-day changes if the underlying market moves enough. The underlying market began moving more than enough just before the noon hour. Most lenders were forced to recall their initial rate offerings and make upward adjustments. The net effect at the time of printing is that the average lender Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260506 Wed, 06 May 2026 04:00:00 GMT Wed, 06 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260506 Mortgage rates spiked sharply on Monday, hitting the highest levels in more than a month as escalation fears ramped up surrounding the Iran war. Yesterday technically saw some recovery, but it may as well have been an "unchanged" day. Now today, we're seeing a more legitimate recovery with the average lender back down to last Friday's levels. The move follows a drop in oil prices inspired by progress toward a peace agreement. News came out overnight that The U.S. and Iran were close to signing a one-page memo outlining a more formal peace agreement. While full details would take time to hammer out, this would effectively end the war. Oil prices and bond yields fell at their fastest pace since mid April. Bond yields correlate with interest rates (in fact, they ARE interest rates) Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260505 Tue, 05 May 2026 04:00:00 GMT Tue, 05 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260505 One popular refrain in the mortgage industry is that rates take the escalator on the way up and the stairs on the way down. Yesterday was definitely an "escalator" sort of day with the average lender moving up 0.12% for a top-tier 30yr fixed rate. Based on improvement in the bond market, rates are lower today, but just barely. It's not so much that rates are taking the stairs down, but more like they're a small child, waiting at the top of the staircase--afraid to take that first step. Some lenders are not even lower compared to yesterday's levels. Others are only modestly better. The absence of better improvement is at least partly attributable to the slower movement in the underlying bond market. Specifically, today's bond rally (good for rates) is less than one third the size of Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260504 Mon, 04 May 2026 04:00:00 GMT Mon, 04 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260504 Top-tier 30-year fixed rates are back above 6.5% today for the first time in more than a month for the average lender. Many lenders raised rates during the course of the day as well.  Those who didn't will likely have to raise rates tomorrow unless the underlying bond market makes a significant recovery overnight. Rates are driven by bonds and bonds are starting the week at higher yields in response to war-related developments. In general, escalation in the Iran war pushes bond yields higher by implying higher inflation via higher oil prices. Additionally, funding the war implies the need for more Treasury supply in the future as the U.S. issues debt to pay for the war. Higher supply leads to lower prices for bonds, and lower prices mean higher rates. Today's top-tier rate of 6.56% Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260501 Fri, 01 May 2026 04:00:00 GMT Fri, 01 May 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260501 Low volatility was the most obvious theme for mortgage rates last week. From April 14th through last Friday, the range for a top-tier 30yr fixed rate remained in an ultra-narrow range of 6.29-6.33%. That trend persisted on Monday of this week, but things changed abruptly after that. Tuesday and Wednesday saw moderately big increases that took the average all the way up to 6.50%.  The past two days have been much calmer by comparison, even if rates remain elevated versus last week.  Today's resilience is most easily attributed to a slew of headlines suggesting that peace negotiations are at least being attempted by The U.S. and Iran. Additional progress toward a resolution (or lack thereof) is the most likely source of volatility for rates next week, but markets have also shown som Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260430 Thu, 30 Apr 2026 04:00:00 GMT Thu, 30 Apr 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260430 Residential construction activity moved in opposite directions in March, as housing starts posted a strong rebound while building permits fell sharply from the previous month’s elevated pace. The latest Census Bureau report suggests builders accelerated new projects even as future pipeline activity softened. Privately owned housing starts rose 10.8% to a seasonally adjusted annual rate of 1.502 million , up from February’s revised 1.356 million pace. Starts were also 10.8% higher than March 2025 levels. Single-family starts increased 9.7% to 1.032 million, while multifamily starts (buildings with five units or more) came in at 446k. On the permitting side, activity pulled back notably. Total building permits fell 10.8% to an annual rate of 1.372 million , down from Februar Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260429 Wed, 29 Apr 2026 04:00:00 GMT Wed, 29 Apr 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260429 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 wo Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter