06/16/2026
📊 Mortgage & Housing Market Update — Tuesday, June 16, 2026
Markets are being driven less by traditional economic data right now and more by geopolitics, energy prices, and bond market reaction.
The big headline: the U.S. and Iran have announced an interim agreement to reopen the Strait of Hormuz and begin 60 days of negotiations over Iran’s nuclear program. That helped calm inflation concerns, pushed oil lower, and gave both Treasuries and mortgage-backed securities a boost.
That’s good news for borrowers.
Agency MBS had a strong week, Treasury yields moved lower, and mortgage pricing has seen some improvement. At the same time, housing data continues to show some weakness, with May housing starts coming in well below expectations.
This week, all eyes are on the Federal Reserve as Kevin Warsh leads his first FOMC meeting. Markets expect no rate change, but his comments on inflation, energy prices, tariffs, and future policy direction could matter a lot for rates.
Bottom line: rates are still headline-driven. Buyers, sellers, and agents need to stay flexible and be ready to act when the market gives us an opportunity.
Buying your first home is a process — not a guess.
John McClellan
Regional Manager | Supreme Lending
NMLS #207768
[[email protected]](mailto:[email protected])
512-589-8088
[www.JohnMcClellan.com](http://www.JohnMcClellan.com)