bullishWednesday, May 20, 2026
Rates fully reverse Tuesday losses on Iran peace deal headlines
10yr Treasury: 4.57%(-0.09)By David Burson
10-year Treasury fell to 4.57% and UMBS 5.0 closed at 97.41 (+0.60) as US-Iran peace agreement news drove a broad bond rally. Yesterday mortgage rates hit a 9-month high of 6.75%; the average lender fully erased that spike by end of day. Geopolitical headline risk remains — any deterioration in the peace narrative could reverse Wednesday's gains quickly.
Market commentary is for informational purposes only and does not constitute financial advice. Rates shown are par rates from lender pricing sheets and are subject to change. NMLS #1111861.