Mortgage Rates Drop to Lowest Level in More than a Month as Iran Deal Progresses
Freddie Mac said the drop came as geopolitical tensions eased and Treasury yields moved lower, with 15-year mortgage rates also slipping to 5.81%.
- On Thursday, Freddie Mac reported the average rate on the benchmark 30-year fixed mortgage fell to 6.47%, down from 6.52% the previous week.
- Easing geopolitical uncertainty surrounding the conflict involving Iran helped markets stabilize, as President Donald Trump signed a tentative deal on June 17 to reopen the Strait of Hormuz and limit Tehran's nuclear program.
- Federal Reserve officials kept the federal funds rate between 3.5% and 3.75%, while the average rate on a 15-year fixed mortgage edged lower to 5.81% from 5.84%.
- "Incoming data continues to reflect a resilient consumer, with retail sales improving and pending home sales strengthening," said Freddie Mac Chief Economist Sam Khater, indicating purchase demand is modestly improving.
- The 10-year Treasury note yield hovered around 4.45% on Friday afternoon as Federal Reserve Chairman Kevin Warsh shifted policy to prioritize price stability over rate cuts.
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14 Articles
Average 30-year U.S. mortgage rate falls to 6.47%, tracking lower bond yields as Iran war winds down
The average long-term U.S. mortgage rate fell this week, tracking Treasury yields that have retreated since a deal to end the war with Iran was announced. The benchmark 30-year fixed rate mortgage rate fell to 6.47% from 6.52% last week,…
Mortgage rates drop to lowest level in more than a month as Iran deal progresses
Mortgage rates fell this week to their lowest level in more than a month, with Freddie Mac reporting the average rate on a 30-year fixed mortgage declined to 6.47% from 6.52% the previous week.
Mortgage rates fall to 6.47% as Iran deal relief meets Fed, Hormuz risks
U.S. 30-year fixed mortgage rates fell to 6.47%—the lowest in over a month—after a tentative U.S.-Iran accord eased energy-market fears, but the Federal Reserve’s inflation stance and renewed Strait of Hormuz tensions could quickly reverse the drop, keeping housing affordability tight and market moves volatile. The post Mortgage rates fall to 6.47% as Iran deal relief meets Fed, Hormuz risks appeared first on TechStock².
Mortgage Rates Fall To 6.47%: Freddie Mac
Federal Reserve chair Kevin Warsh addresses the central bank’s move regarding forward guidance and whether the was a discussion of a future rate cut during a press conference. Mortgage rates fell this week to the lowest level in more than a month, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage declined to 6.47% from …
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