Easing Tensions with Iran Push Mortgage Rates Lower — but a Potential Fed Rate Hike Clouds the Outlook
Freddie Mac said Treasury yields eased after a tentative U.S.-Iran deal, while Fed officials still signaled they may raise rates this year.
- On Thursday, Freddie Mac reported the average 30-year fixed mortgage rate fell to 6.47% from 6.52% last week, offering Americans brief relief as Iran tensions eased.
- The US-Iran peace plan announced Sunday lowered the 10-year Treasury yield from 4.53% last week to 4.44% Thursday, influencing mortgage pricing by lenders.
- Federal Reserve officials, led by Fed Chair Kevin Warsh, left benchmark rates unchanged Wednesday but signaled potential hikes later this year due to inflation tied to the Middle East.
- Pending home sales increased in May, and NAR chief economist Lawrence Yun noted a late spring buyer rush indicates "acceptance of above-6% mortgage rates as the new normal."
- Redfin economic research head Chen Zhao said markets are adjusting to a new era after Wednesday's meeting, while inflation above the Federal Reserve's 2% target continues sidelining many buyers.
28 Articles
28 Articles
Mortgage rates fall to lowest level in over a month as Iran deal framework takes shape
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 last week's reading of 6.52%. The average rate on a 30-year loan was 6.81% a year ago.INCOME NEEDED TO AFFORD A MEDIAN-PRICED HOME HAS NEARLY DOUBLED SINCE 2020, REPORT FINDS"In…
Will Mortgage Rates Go Down in 2026? New One-Month Low Suggests Relief, but Waiting May Backfire
Mortgage rates have fallen to their lowest level in roughly a month. The drop is real. But for the millions of Americans who have been waiting on the sidelines for rates to come down meaningfully before buying a home, the math may not be working in their favour. The average rate on a 30-year fixed-rate mortgage fell to 6.47% as of mid-June 2026, according to a weekly survey by mortgage buyer Freddie Mac. That is down from 6.52% the prior week an…
Americans looking for housing had a break this week when mortgage rates went down slightly.
Associated Press News
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.
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