Quite the Last Couple of Weeks
Boring Mortgage News
The 10 Year Treasury Yield
As I stated at the beginning of this party called the Iran War, we faced the potential for accelerated inflation with the pushing of the 10-year treasury yield, which in turn pushes mortgage interest rates up (take a breath and throw a comma in there), we’ve had quite the last couple of weeks.
In Mid-February, we were at 4.00% for the 10-year Treasury yield, and a week ago, we pushed past the 4.5% ceiling and closed at 4.6%. Mortgage rates took great notice and began marching skyward. With rumors of a peace deal coming along with the opening of the Strait, we opened today with a 4.5% 10 year, oil prices running below $95 a barrel (as of the writing of this newsletter at 11.00 am), which is hopeful for cooling that inflation.
Cooler inflation = better mortgage world.
Less Boring Mortgage News
As I kept wondering if my Mountain Bike was thinking about me, as I was unable to ride it because of all the rain, I noticed the average for the 30-year fixed rate flattened out in the high 6% range.
Keep in mind that this is a national average, and can change a bunch based on down payment, credit, property type, occupancy type, and program type. If you want to dive deeper, holler at me.
Source: HousingWire & Mortgage News Daily. This is not a commitment to lend and does not guarantee the availability of any particular product or interest rate. Rates/terms illustrated may not be available through BankSouth Mortgage.
Blog post date: May 26, 2026
