Tuesday, October 13, 2026: Daily Mortgage Market Update — Rates Ease as Lower Oil Pulls Treasury Yields Off Highs

FRANKLIN, Tenn. — Mortgage rates eased Tuesday as Treasury yields backed away from recent highs, with lower oil prices giving the bond market some breathing room ahead of Wednesday's inflation report.

The 10-year Treasury yield fell 2.7 basis points to 5.216%, its lowest close since September 25, according to Dow Jones Market Data based on Tradeweb closing prices. That leaves the benchmark about 9 basis points below its 52-week high of 5.310% set October 5. The 2-year yield, which tracks expectations for Federal Reserve policy more closely, was essentially unchanged near 4.79%.

Mortgage averages followed yields lower. Mortgage News Daily's index put the 30-year fixed at 7.46%, down 2 basis points and another two-week low, while the 15-year fixed slipped to 7.14%. Zillow's lender marketplace showed the 30-year fixed at 7.32%, down 12 basis points from Monday, and the 15-year fixed at 6.59%. Mortgage News Daily described an uneventfully good day with little intraday volatility, so most lenders priced once in the morning and held there.

Energy was the main driver. Brent crude futures fell about 1% to near $105 a barrel after settling at $106.65 on Monday, as President Donald Trump said Russia had agreed to supply diesel to global markets and his administration temporarily eased sanctions on Russian fuel. Goldman Sachs estimated the initial volumes would lower wholesale diesel prices by only $1 to $2 a barrel, and attacks on Saudi Arabia and Gulf shipping kept a floor under crude.

Stocks finished little changed as bank earnings season got underway. The S&P 500 slipped less than 0.1%, the Dow Jones Industrial Average fell 180 points, or 0.3%, and the Nasdaq composite dipped 0.2%, according to the Associated Press. Wells Fargo dropped 3.1% after reporting weaker revenue.

Wednesday is the bigger test. The Bureau of Labor Statistics releases the September consumer price index at 8:30 a.m. Eastern, with retail sales due Thursday. A hotter reading could push yields back toward their recent highs, while a softer one could extend the relief bonds have found over the past several sessions. The Fed's next policy meeting is October 27–28.

For borrowers, Tuesday's dip is modest but welcome. Buyers closing in the next 30 to 45 days may want to discuss locking before the inflation release, while those with more time can weigh whether the data is worth waiting for.

Sources

• Morningstar (Dow Jones) — 10-Year Treasury Yield Falls to 5.216%
• Mortgage News Daily — Mortgage Rates Inch to Another 2-Week Low
• Yahoo Finance — Mortgage and refinance rates today, Tuesday, October 13, 2026
• The Economic Times — Crude oil falls to $105 as traders assess Russian supply, Mideast attacks
• CNBC — Trump's diesel deal with Russia equals less than two weeks of U.S. demand
• Associated Press — US stocks edge back from their record following the first big batch of profit reports
• Mortgage Research — Mortgage Rates Today, October 13, 2026: Stand By for Tomorrow's Consumer Price Index