fortune.com ·
Current Mortgage Rates 05 12 2026
Topic context
This topic has been covered 395381 times in the last 30 days across our monitored publishers.
The full article is on the original publisher site. This page only shows the headline and a very short excerpt.
AI insight
AI-generatedU.S. mortgage rates remain elevated, suppressing both purchase and refinance demand. The 4.4% weekly drop in applications signals continued housing market weakness. Banks and mortgage lenders face lower origination volumes, compressing fee income. REITs with residential exposure may see slower rent growth or higher cap rates. The channel is demand_spike (negative) via higher borrowing costs.
Signals our AI researcher identified
Extracted by our AI model from this article and related public sources — not direct quotes from the publisher.
- 30-year fixed-rate conforming mortgage rate: 6.328%, unchanged.
- 15-year fixed-rate mortgage rate: 5.626%, down 2 bps.
- 30-year jumbo mortgage rate: 6.506%, down from 6.551%.
- Mortgage applications decreased 4.4% (week ending May 1); refinancing down 5%, purchases down 4%.
- Fed funds rate: 3.50%-3.75%; next meeting June 16-17.
Mortgage applications drop 4.4% in a week, indicating lower origination volumes for banks; SP500_FINANCIALS is affected down 2-3%.
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Sector impact at a glance
- SP500_FINANCIALSshort
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