Mortgage Rates in the US Continue to Rise: MBA

2026-05-20 11:07 By Joana Taborda 1 min. read

The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less jumped by 10bps to 6.56% in the week ending May 15th, 2026, from 6.46% the previous period and reaching its highest level in seven weeks, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.

Mortgage rates went up for a fourth consecutive week, tracking Treasury yields higher amid “ongoing concerns around inflation from higher fuel costs combined with rising concerns over global public debt” said Joel Kan, an MBA economist.

As a result, mortgage applications declined 2.3%, reversing a 1.7% rise in the previous period, with applications to purchase a home slumping 4.1% and those to refinance a home loan edging down 0.1%.

“Overall applications were down to the lowest level in five weeks as purchase borrowers pulled back across conventional and government loan types,” added Kan.



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Mortgage Rates in the US Continue to Rise: MBA
The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less jumped by 10bps to 6.56% in the week ending May 15th, 2026, from 6.46% the previous period and reaching its highest level in seven weeks, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Mortgage rates went up for a fourth consecutive week, tracking Treasury yields higher amid “ongoing concerns around inflation from higher fuel costs combined with rising concerns over global public debt” said Joel Kan, an MBA economist. As a result, mortgage applications declined 2.3%, reversing a 1.7% rise in the previous period, with applications to purchase a home slumping 4.1% and those to refinance a home loan edging down 0.1%. “Overall applications were down to the lowest level in five weeks as purchase borrowers pulled back across conventional and government loan types,” added Kan.
2026-05-20
US Mortgage Rates Tick Up to Five-Week High
The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less rose slightly to 6.46% in the week ending May 8, 2026, up from 6.45% the previous week and reaching its highest level since early April, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Rates remained elevated as Treasury yields stayed high due to stalled US-Iran negotiations and persistent inflation concerns, which increased bets on a Federal Reserve rate hike later this year or early in 2027. Despite the high rates, total mortgage application volume climbed 1.7%, marking the first weekly increase after two consecutive declines, driven by a 3.9% rebound in purchase applications. However, refinance demand continued to decline, dropping by 0.8%.
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The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less edged up to 6.45% in the week ending May 1, 2026, from 6.37% the previous week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. The increase tracked a rise in Treasury yields amid elevated geopolitical uncertainties and stalled US-Iran negotiations, as soaring energy prices fueled bets of a Fed hike this year. As a result, total mortgage application volume fell 4.4%, marking the second consecutive weekly decline. Refinance demand dropped 5.0%, while applications to purchase a home decreased by 3.7%.
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