According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.41% in May 2026, up 7 basis points (bps) over April. Additionally, the average 15-year rate averaged 5.76% in May, up 7 bps from April and up 33 basis points since the end of February.
The 10-year Treasury yield, a key benchmark for long-term borrowing, averaged 4.47% last month, 16 bps higher than in April. Stronger-than-expected inflation pushed yields upward, with the 10-year yield reaching 4.6% during the month. Rising energy prices kept inflation high, as fuel oil prices increased 5.8% and gasoline prices rose 5.4%.
Persistently high inflation has also impacted household budgets, with the personal saving rate falling to 2.6% in April.
“Chris’ proven leadership and deep understanding of the Utah market make him exceptionally well-suited to lead our homebuilding operations during a time of significant growth,” said Darlene Carter, CEO of Cole West. “Chris has already overseen the development of more than 1,400 homes throughout his tenure with Cole West. His expertise, vision, and commitment to our team and local community are invaluable as we continue to expand our presence throughout the state.”
