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Mortgage rates – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of May 21, 2026, were as follows:
The 30-year fixed mortgage rate was 6.51%, up from 6.36% last week. The 15-year fixed was 5.85%, up from 5.71% last week.
The graph below shows the trajectory of mortgage rates over the past year.
| The U.S. Treasury Bond market sold off this week, which in turn caused interest rates and mortgage rates to move higher. Investors became concerned that rising energy costs and the recent uptick in inflation could delay future Federal Reserve rate cuts. When inflation fears increase, bond prices typically fall, pushing bond yields and mortgage rates upward as lenders demand higher returns to offset the risk of inflation by reducing the future value of those fixed payments. It’s been up and down with bond yields and mortgage rates based on events in the Middle East.
Should tensions calm bond yields and mortgage rates could drop back to where they were in recent weeks. It’s unlikely that they will quickly drop back to their 3-year low just before the conflict started in the near term, but they will moderate. Home sale data for April will be released next week by the California Association of Realtors and the National Association of Realtors. We tabulate the data from the same sources around the 8th of each month so you can get that data now from our website RodeoRe.com for your city or zip code. Mortgage rates jumped at the end of the week – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of May 14, 2026, were as follows: The 30-year fixed mortgage rate was 6.36%, nearly unchanged from 6.37% last week. The 15-year fixed was 5.71%, nearly unchanged from 5.72% last week. Unfortunately, rates jumped at the end of the week. The 30-year was closer to 6.65% on Friday. The graph below shows the trajectory of mortgage rates over the past year.
The Consumer Price Index jumped to a 3-year high inflation rate in April – The Consumer Price Index released this week. It showed that consumer prices for all goods increased 3.8% year-over-year, the highest annual inflation rate in three years. Just a few months ago, in February 2026 before the war began, inflation had fallen to 2.4%, its lowest annual rate in three years. After the war started, the CPI rate jumped from 2.4% in January and February to 3.3% in March and 3.8% in April. Fortunately, core inflation, which excludes food and energy, came in at 2.8%. That indicates that, at least for now, much of the recent increase in inflation is being driven by higher gas and energy prices rather than broad-based inflation throughout the economy. Analysts remain hopeful that overall inflation could begin to moderate again once tensions in the Middle East and the Strait of Hormuz is fully reopened to unrestricted oil shipments. One fifth of the of the world’s oil supply passes through that region. Any disruption can quickly impact energy prices worldwide and, in turn, inflation here in the United States.
Stock markets – The Dow Jones Industrial Average closed the week at 49,526.17, down 0.2% from 49,609.16 last week. It is up 3% year-to-date from 48,063.29 on December 31, 2025. The S&P 500 closed the week at 7,408.50, up 0.1% from 7,398.93 last week. The S&P is up 8.2% year-to-date from 6,845.50 on December 31, 2025. The Nasdaq closed the week at 26,225.15, down 0.1% from 26,247.08 last week. It is up 12.8% year-to-date from 23,241.99 on December 31, 2025. U.S. Treasury Bonds – The 10-year treasury bond closed the week yielding 4.59% up from 4.38% last week. The 30-year treasury bond yield ended the week at 5.12%, up from 4.99% last week. We watch bond yields because mortgage rates follow bond yields. Have a great weekend! |
Mortgage rates – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of May 14, 2026, were as follows:
The 30-year fixed mortgage rate was 6.36%, nearly unchanged from 6.37% last week. The 15-year fixed was 5.71%, nearly unchanged from 5.72% last week.
The graph below shows the trajectory of mortgage rates over the past year.
Stocks moved higher this week, with the S&P 500 and Nasdaq continuing their climb as investors reacted positively to stronger-than-expected economic data, solid corporate earnings, and ongoing optimism surrounding artificial intelligence and technology spending. The April jobs report came in above expectations, reinforcing confidence that the labor market and overall economy remain more resilient than many analysts anticipated. Investors also appeared encouraged that tensions involving Iran, while still closely watched due to potential impacts on oil prices and inflation, have not yet significantly disrupted global markets
Mortgage rates – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of May 7, 2026, were as follows: The 30-year fixed mortgage rate was 6.37%, up from 6.3% last week. The 15-year fixed was 5.72%, up from 5.64% last week.
The graph below shows the trajectory of mortgage rates over the past year.
The U.S. Bureau of Labor Statistics reported that 115,000 new jobs were created in April, far surpassing analysts’ expectations of 65,000 new jobs. The unemployment rate held at 4.3%, unchanged from March. Average hourly wages increased 3.6% from one year ago, a slight increase from 3.5% in March, which was the lowest year-over-year increase since 2021.
Stock markets – The Dow Jones Industrial Average closed the week at 49,609.16, up 0.8% from 49,499.27 last week. It is up 3.2% year-to-date from 48,063.29 on December 31, 2025. The S&P 500 closed the week at 7,398.93, up 2.3% from 7,230.12 last week. The S&P is up 8.1% year-to-date from 6,845.50 on December 31, 2025. The Nasdaq closed the week at 26,247.08, up 4.5% from 25,114.44 last week. It is up 12.9% year-to-date from 23,241.99 on December 31, 2025.
U.S. Treasury Bonds – The 10-year Treasury bond closed the week yielding 4.38%, almost unchanged from 4.39% last week. The 30-year treasury bond yield ended the week at 4.99%, almost unchanged from 4.97% last week. We watch bond yields because mortgage rates follow bond yields.
Mortgage rates – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of May 7, 2026, were as follows:
The 30-year fixed mortgage rate was 6.37%, up from 6.3% last week. The 15-year fixed was 5.72%, up from 5.64% last week.
The graph below shows the trajectory of mortgage rates over the past year.
| It was another wild month on Wall Street! It started with a jobs report showing that 178,000 new jobs were added in March. That was triple the 60,000 that expert analysts had forecasted, and a turnaround from February, when there was a net job loss. This showed that the job market was not as dire as previously felt. Then a ceasefire was announced with Iran, which also brought about a rebound from March’s steep losses after the war began. Third-quarter corporate earnings generally beat expectations, and tech and AI profits were stronger than expected as well. Inflation reports were mixed. The CPI report showed that inflation had jumped, but Core CPI, which excludes food and energy, was still under control. Unfortunately, on April 30, the PCE Personal Consumption Expenditures report was released, which showed that inflation was increasing more rapidly due to surging energy costs, which were spilling over into other goods and services. By the month’s end, the Dow surged 7.3% for the month, and the S&P and Nasdaq jumped 10.4% and 15.3%, respectively. That made up all their steep losses when the war started in March and more.
Mortgage rates – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of March 26, 2026, were as follows: The 30-year fixed mortgage rate was 6.3%, up from 6.23% last week. The 15-year fixed was 5.64%, up from 5.58% last week. The graph below shows the trajectory of mortgage rates over the past year.
U.S. Treasury Bonds – The 10-year treasury bond closed the week yielding 4.39%, up from 4.31% last week. The 30-year treasury bond yield ended the week at 4.97%, up from 4.91% last week. We watch bond yields because mortgage rates follow bond yields. Economic update for the month ending April 30, 2026 Mortgage rates – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of March 26, 2026, were as follows: The 30-year fixed mortgage rate was 6.30%, down slightly from 6.38% last month. The 15-year fixed was 5.64%, down from 5.75% last month. Stock markets – The Dow Jones Industrial Average closed the month at 49,652.14, up 7.3% from 46,286.01 on March 31, 2026. The Dow is up 3.3% year-to-date from 48,063.29 on December 31, 2025. The S&P 500 closed the week at 7,209.01, up 10.4% from 6,527.47 on March 31st. The S&P is up 5.3% year-to-date from 6,845.50 on December 31, 2025. The Nasdaq closed the week at 24,892.31, up 15.3% from 21,592.47 at the end of March. The Nasdaq is up 7.1% year-to-date from 23,241.99 on December 31, 2025. U.S. Treasury Bond Yields — The 10-year U.S. treasury bond yield closed the month at 4.32%, up from 4.22% On January 31, 2026. The 30-year US treasury bond yield ended the month at 4.91%, up from 4.85% on January 31, 2026. We watch bond yields because mortgage rates often follow treasury bond yields. Home sales figures are released on the third week of the month for the previous month from the National Association of Realtors and the California Association of Realtors. Here is a summary of the March existing home sales reports. U.S. existing-home sales – March 2026 – The National Association of Realtors reported that existing-home sales totaled 3.98 million units on a seasonally adjusted annualized rate in March, down 3.6% from the number of homes sold in February. Year-over-year home sales were down 1% from the number of homes sold last March. The median price paid for a home in the U.S. in March was $408,800, up 1.4% year-over-year from $403,100 last March. California existing-home sales – The median price soared 7.1% in March as inventory tightened – The California Association of Realtors reported that existing-home sales totaled 265,320 on an adjusted annualized basis in March, down 3.5% from 274,820 annualized sales in February and down 2.5% from 272,020 last March. The statewide median price paid for a home in was in $889,190, in March up 7.1% from $830,370 in February. Year-over-year March’s median price was up 0.4% from $885,900 one year ago. There were fewer listings in February. Housing inventory declined 17.5% month-over-month in March. The unsold inventory index dropped to a 3.3-month supply of homes for sale in March, down from 4-month in February. Below is the housing data for Southern California by County.
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| Mortgage rates – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of March 26, 2026, were as follows: The 30-year fixed mortgage rate was 6.30%, down slightly from 6.38% last month. The 15-year fixed was 5.64%, down from 5.75% last month.
The graph below shows the trajectory of mortgage rates over the past year.
Stock markets – The Dow Jones Industrial Average closed the month at 49,652.14, up 7.3% from 46,286.01 on March 31, 2026. The Dow is up 3.3% year-to-date from 48,063.29 on December 31, 2025. The S&P 500 closed the week at 7,209.01, up 10.4% from 6,527.47 on March 31st. The S&P is up 5.3% year-to-date from 6,845.50 on December 31, 2025. The Nasdaq closed the week at 24,892.31, up 15.3% from 21,592.47 at the end of March. The Nasdaq is up 7.1% year-to-date from 23,241.99 on December 31, 2025. U.S. Treasury Bond Yields – The 10-year U.S. Treasury bond yield closed the month at 4.32%, up from 4.22% On January 31, 2026. The 30-year US treasury bond yield ended the month at 4.91%, up from 4.85% on January 31, 2026. We watch bond yields because mortgage rates often follow treasury bond yields. Home sales figures are released on the third week of the month for the previous month by the National Association of Realtors and the California Association of Realtors. Here is a summary of the March existing home sales reports. U.S. existing-home sales – March 2026 – The National Association of Realtors reported that existing-home sales totaled 3.98 million units on a seasonally adjusted annualized rate in March, down 3.6% from the number of homes sold in February. Year-over-year home sales were down 1% from the number of homes sold last March. The median price paid for a home in the U.S. in March was $408,800, up 1.4% year-over-year from $403,100 last March. California existing-home sales – The median price soared 7.1% in March as inventory tightened – The California Association of Realtors reported that existing-home sales totaled 265,320 on an adjusted annualized basis in March, down 3.5% from 274,820 annualized sales in February and down 2.5% from 272,020 last March. The statewide median price paid for a home was $889,190 in March, up 7.1% from $830,370 in February. Year-over-year, March’s median price was up 0.4% from $885,900 one year ago. There were fewer listings in February. Housing inventory declined 17.5% month-over-month in March. The unsold inventory index dropped to a 3.3-month supply of homes for sale in March, down from 4 months in February. Below is the housing data for Southern California by County.
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Mortgage rates – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of April 30, 2026, were as follows:
The 30-year fixed mortgage rate was 6.3%, up from 6.23% last week. The 15-year fixed was 5.64%, up from 5.58% last week.
The graph below shows the trajectory of mortgage rates over the past year.
| This week, markets continued their upward momentum, driven largely by strong corporate earnings, particularly from major tech companies, which helped push the S&P 500 and Nasdaq closer to recent highs. Positive earnings surprises reinforced confidence that corporate America remains resilient despite elevated interest rates. Economic data was mixed but generally supportive, with ongoing signs of steady consumer activity and a still-solid labor market. Treasury yields remained somewhat volatile but have stabilized off recent peaks, helping support equities. Ongoing geopolitical tensions remain a factor to watch, particularly for their potential impact on energy prices and inflation, but so far markets have largely absorbed the news without significant disruption. Overall, the tone of the market remains constructive, though investors continue to watch inflation trends and the Federal Reserve’s next moves closely as we head further into earnings season.
Mortgage rates – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of April 23, 2026, were as follows: The 30-year fixed mortgage rate was 6.23%, down from 6.3% last week. The 15-year fixed was 5.58%, down from 5.65% last week. The graph below shows the trajectory of mortgage rates over the past year. Stock markets – The Dow Jones Industrial Average closed the week at 49,223.80, down 0.5% from 49,447.43 last week. It is up 2.4% year-to-date from 48,063.29 on December 31, 2025. The S&P 500 closed the week at 7,164.83, up 0.5% from 7,126.06 last week. The S&P is up 4.7% year-to-date from 6,845.50 on December 31, 2025. The Nasdaq closed the week at 24,833.05, up 1.5% from 24,468.48 last week. It is up 6.8% year-to-date from 23,241.99 on December 31, 2025. U.S. Treasury Bonds – The 10-year treasury bond closed the week yielding 4.31%, up from 4.26% last week. The 30-year treasury bond yield ended the week at 4.91%, up from 4.88% last week. We watch bond yields because mortgage rates follow bond yields. Home sales are released on the third week of the month by the California Association of Realtors and the National Association of Realtors. Below is a summary of their reports. U.S. existing-home sales – March 2026 – The National Association of Realtors reported that existing-home sales totaled 3.98 million units on a seasonally adjusted annualized rate in March, down 3.6% from the number of homes sold in February. Year-over-year home sales were down 1% from the number of homes sold last March. The median price paid for a home in the U.S. in March was $408,800, up 1.4% year-over-year from $403,100 last March. California existing-home sales – The median price soared 7.1% in March as inventory tightened – The California Association of Realtors reported that existing-home sales totaled 265,320 on an adjusted annualized basis in March, down 3.5% from 274,820 annualized sales in February and down 2.5% from 272,020 last March. The statewide median price paid for a home was $889,190 in March, up 7.1% from $830,370 in February. Year-over-year March’s median price was up 0.4% from $885,900 one year ago. There were fewer listings in February. Housing inventory declined 17.5% month-over-month in March. The unsold inventory index dropped to a 3.3-month supply of homes for sale in March, down from 4-month in February.
Have a Great Weekend! |
Mortgage rates – Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of April 23, 2026, were as follows:
The 30-year fixed mortgage rate was 6.23%, down from 6.3% last week. The 15-year fixed was 5.58%, down from 5.65% last week.
The graph below shows the trajectory of mortgage rates over the past year.
Stock markets – The Dow Jones Industrial Average closed the week at 49,499.27, down 0.5% from 49,223.80 last week. It is up 2.4% year-to-date from 48,063.29 on December 31, 2025. The S&P 500 closed the week at 7,230.12, up 0.5% from 7,164.83 last week. The S&P is up 4.7% year-to-date from 6,845.50 on December 31, 2025. The Nasdaq closed the week at 25,114.44, up 1.5% from 24,833.05 last week. It is up 6.8% year-to-date from 23,241.99 on December 31, 2025.
