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β 6.49% on the 30-year (Zillow)
β 4th straight day falling
Oil dropped under $90/barrel, Treasury yield at 4.46%
β both easing rate pressure
6.73% refi rate, down 10 bps from last week
Fed watch callout
β 3 officials speaking today including Lorie Logan
π Mortgage rate update for May 7, 2026:
30-yr fixed: 6.47% Β· 15-yr: 5.88%
After a brief dip below 6% last month, rates are back up following the Fed's 3rd straight rate pause. Here's what's moving the market:
π Rates risingπ‘ Prices flat nationallyπ¦ Inventory up ~10%