Average US mortgage rates climbed to their highest level in a month on Wednesday, May 6, 2026, as geopolitical tensions in the Middle East pressured financial markets. The 30-year fixed-rate mortgage average rose to 6.45%, leading to a significant 4.4% decline in total mortgage application volume.

Data from the Mortgage Bankers Association (MBA) showed that the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased from 6.37%. Meanwhile, Zillow lender marketplace data indicated 30-year fixed rates at 6.31%, reflecting a sharp one-day rise of nine basis points.

 

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