May 22, 2026 at 5:19 PM
Matthew GrahamMortgage News Daily
Mortgage lenders rely on the bond market to generate mortgage rates. In addition to being fully closed on Monday for Memorial Day, bonds also close 3 hours earlier than normal on the preceding Friday (i.e. today).
The abbreviated trading session was fairly uneventful for rates despite some back-and-forth volatility in response to diplomacy headlines surrounding Iran/US peace negotiations. The flow of news resulted in better bond market levels early in the day and a pull-back in the late AM hours.
After accounting for some lenders' mid-day rate changes, the average lender ended the day right in line with yesterday's levels which were also incidentally right in line with last Friday's levels.
Mortgage Rate Trends
Source: Freddie Mac & U.S. Treasury via FRED — Past 12 months
Disclosure: Any rates, payments, or loan terms referenced in this article are for
informational and educational purposes only and are not a loan offer, rate lock, or commitment to
lend. Actual rates, APR, and terms depend on credit profile, property type, loan amount, and other
factors. All loans subject to credit and property approval.
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