Mortgage rates are s--t out of luck as war leaves stain on bond market ⚡ Flash Update

Flash Market Update

Jul 24, 2026

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THE BRIEF 📰
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The key driver of mortgage rates in the U.S. is the bond market, specifically the price of mortgage bonds (mortgage-backed securities).

Bond markets in general have not been a fan of U.S. military operations in Iran, but there was some hope following the “Memorandum of Understanding” in June.

However, the unraveling of that peace deal in recent days has left its mark on mortgage rates.

Although last week managed to pinch off a small win, things have been getting messier by the day.

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THE IMPACT 💥
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Mortgage rates do not technically rise or fall, instead it is the price of rates that changes while the full menu of options remains constant.

Bond prices have an INVERSE impact on the price of mortgage rates.

The steady decline in bond prices this month means the price of ALL RATES has increased.

In just the last five trading sessions, mortgage rate pricing has given up 89 basis points.

If quoted today, the same rate from last week would now cost $888 more per $100K of loan amount.

That’s a staggering increase of $4,440 on a $500K loan in just a week.

Should homebuyers hope for a quick recovery in rates or is it better to stop the bleeding now with a lock?

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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.