The average rate on a 30-year fixed-mortgage was at 6.36% as of May 14th, one basis point below the one-month high in the previous week to hold most of the rebound since the start of the year. Mortgage rates tracked the increase in long-dated Treasury yields during the period as a surge in energy prices placed inflationary risks on the upside, potentially warranting a hawkish Federal Reserve. “While purchase demand is softening, it remains above this time last year. Recent data also shows existing-home sales modestly edging up.” said Sam Khater, Freddie Mac’s Chief Economist.