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Updated · Mortgage News Daily · May 2730-Year Mortgage Rates Hold at 6.61%, Lowest Since May 14 as Iran Deal Hopes Lift Bonds
2 articles · Updated · Mortgage News Daily · May 27Summary
- Average lenders kept top-tier 30-year fixed mortgage rates at 6.61% on May 27, matching the prior day and staying at the lowest level since May 14.
- Iran peace-deal updates briefly improved the bond market early in the session, a move that typically pushes mortgage rates lower.
- That bond rally faded later, but the reversal did not worsen pricing enough to lift mortgage rates above 6.61%.
- The hold follows a 0.04-point drop on May 26 from 6.75% a week earlier, extending a recent easing trend tied to reduced geopolitical volatility.
Insights
Can this new deal truly resolve over 70 years of deep-seated animosity between the U.S. and Iran? With a peace deal reportedly near, why did the U.S. military just launch new strikes against Iran? Even with a peace agreement, how long until the mine-filled Strait of Hormuz is truly safe for global trade?