Top-tier 30-year fixed rates slipped to 6.45% on Thursday from 6.50%, returning to roughly where they stood on Wednesday morning.
The move followed a rally beginning just after 2am ET, when oil prices and bond yields fell together, easing borrowing costs as lower yields fed through to mortgage pricing.
Rates had jumped on Wednesday after reports of a prolonged Strait of Hormuz blockade, extending a two-month pattern in which mortgage-rate moves closely tracked oil-price swings.
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