Mortgage rates move to highest level in 5 weeks, but homebuyers shake it off

[mahatmakanejeeves]

Source: CNBC

Real Estate
Mortgage rates move to highest level in 5 weeks, but homebuyers shake it off

Published Wed, May 13 2026 7:00 AM EDT
Updated An Hour Ago
Diana Olick
@DianaOlick
@DianaOlickCNBC
@in/dianaolick

KEY POINTS
* The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.46%
* Applications for a mortgage to purchase a home rose 4% for the week and were 7% higher than the same week one year ago.
* "Potential homebuyers shrugged off the current economic and mortgage rate uncertainties and returned to the market," said Joel Kan, an MBA economist, in a release.


Homes at a new development in Fontana, California, US, on Saturday, May 9, 2026.
Kyle Grillot | Bloomberg | Getty Images

Homebuyers appear to be getting used to the new normal of higher mortgage rates, even the highest in over a month. Buyer demand for mortgages helped to push total mortgage application volume up 1.7% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index

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Read more: https://www.cnbc.com/amp/2026/05/13/mortgage-rates-move-to-highest-level-in-5-weeks.html

[3825-87867]

1. Why do they even have windows on the sides?

21st century version of the 1950s housing boom. Except many of these homes won't be as affordable overall in the long run as in the 50s. But..na, na, na, na, let's live for today.