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30-year mortgage rates return to 6.75% as gasoline futures peak
Mortgage News Daily links the rate move to higher gasoline prices, with August gasoline futures reaching May 19 highs while 30-year fixed rates revisit the 6.75% level.
Mortgage News Daily said 30-year fixed mortgage rates are back at 6.75%, after a period of weakness earlier in 2026. The outlet noted rates fell from 6.75% on July 31, 2025 to 5.99% by late February 2026, before climbing again, returning to 6.75% on May 19, 2026.
Since then, rates have largely moved sideways, with 6.75% being revisited last Monday and again today. The outlet attributed the recent direction largely to war-related fuel price pressures and stronger economic data, adding that a U.S. Supreme Court ruling on tariffs was another factor that worsened rate conditions by increasing Treasury issuance implications.
Mortgage News Daily also pointed to a parallel in energy markets, saying August gasoline futures hit their May 19 highs this week, aligning with the mortgage rate round trip. For added context, it said recent stock-market earnings season has created trading patterns, including money managers pulling money out of the bond market over the past two days, which can push yields and rates higher.
Latest closeGasoline (RBOB) $3.114 ▼5.7%