Mortgage Rates Rise as 30-Year Fixed Tracks Treasury Yields Higher

The average U.S. 30-year fixed conventional mortgage rate rose 8 basis points to 6.34% on May 14, 2026, according to Zillow lender marketplace data, following a move higher in 10-year Treasury yields. Zillow said the rate was the highest single-day level since late March, when the 30-year mortgage rate reached its 2026 peak of about 6.47%. The figures are national averages rounded to the nearest hundredth. Refinance rates also remain elevated, with refinance borrowing costs often slightly higher than purchase mortgage rates. Higher mortgage rates can pressure housing affordability by increasing monthly payments, while lower rates typically support refinancing and home-purchase demand.