May 12, 2026 at 7:28 PM
Matthew GrahamMortgage News Daily
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.
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.
Blue Sky Lending, LC is a licensed mortgage broker, not a direct lender.
The Lending Stars NMLS #289106.
Blue Sky Lending, LC NMLS #289106.
Equal Housing Lender.
Terms of Service •
Privacy Policy
Ready to see what you qualify for?
Get a free personalized rate quote in minutes. No credit pull. No SSN required to get started.