Mortgage rates rally after inflation data as oil and gold tumble 🏠📉🛢️

Midweek Market Update

Jun 26, 2026

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MARKET UPDATE 📰
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Tanker traffic in the Hormuz has improved significantly since the peace deal was signed, adding to the optimism that war driven inflation will subside.

As a result, mortgage bond prices are up over 120 bps since the top on May 19.

However, both oil and gold have been on the skids.

Oil is down 26% in just the last month, dipping below $70 for the first time since the earliest days of the Iran conflict.

Gold is also on the run, down 26% from the all-time high of $5,418.

The shiny metal crossed below $4,000 for the first time since early November, and only the fourth time since setting the historic price on October 5, 2025.

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Meanwhile, mortgage rates survived another test today.

Final GDP for Q1 and PCE inflation (Personal Consumption Expenditures) where close enough to market expectations to keep the positive momentum going for bonds.

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RATE PRICE INDEX 📉
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Mortgage rates do not rise or fall, instead the PRICE of rates change.

The LendZen Index calculates a daily change in the price of mortgage rates by tracking a spectrum of mortgage-backed securities (MBS).
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JUN 25:  -10 bps (-$96 per $100K)
5-Day:  -21 bps (-$213)
10-Day:  -31 bps (-$307)
30-Day:  -76 bps (-$756)
1-Year: -133 bps (-$1,333)

Learn more about the LendZen Index and explore the full data series at LendZen.substack.com

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MORTGAGE SPREADS 🧈
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Published daily with the LendZen Index is the LendZen Mortgage-Treasury Spread.

The LMTS uses actual bond yields to create a historically consistent, and reliable, data set.
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JUN 25:  0.98
JUN 18:  0.98
24h:  -1 bps
5d:  -0 bps
12m Avg:  1.03
YoY:  -29 bps

Learn more about the importance of accurate mortgage spreads on this Substack post.

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Thanks for reading…

If you want to shop real-time mortgage rates and get instant qualification results without providing any contact information visit LendZen.com

The below snapshot is just a glimpse of today’s rates, but the pricing you see is exactly what you get - there are no additional lender fees or origination charges.