US 30-Year Mortgage Rate Falls to 6.47% as Iran Truce Pushes 10-Year Yield to 4.44%
Updated
Updated · WRAL News · Jun 18
US 30-Year Mortgage Rate Falls to 6.47% as Iran Truce Pushes 10-Year Yield to 4.44%
3 articles · Updated · WRAL News · Jun 18
Summary
Freddie Mac said the average 30-year fixed mortgage rate slipped to 6.47% this week from 6.52%, while the 15-year rate edged down to 5.81% from 5.84%.
The drop tracked a retreat in Treasury yields after the US and Iran reached a tentative deal to end the war, reopen the Strait of Hormuz and let Iranian oil flow freely again.
The 10-year Treasury yield fell to 4.44% Thursday from 4.53% last week, though it remains above the 3.97% level seen in late February before the conflict began.
Mortgage rates are still below a year ago's 6.81%, but they have stayed mostly above 6% since late February, keeping many buyers sidelined even as existing-home sales and pending sales showed some recent improvement.