US 30-Year Fixed Mortgage Rate Decreases to 6.23%
The average rate on the U.S. 30-year fixed-rate mortgage dropped to 6.23%, down from 6.30% the previous week, according to Freddie Mac. The decline is expected to be limited by geopolitical uncertainty, particularly the fragile ceasefire between the U.S. and Iran. Mortgage rates are closely tied to U.S. Treasuries, which have remained range-bound due to ongoing tensions.
Topics: geopolitical tensions Iran ceasefire mortgage rates U.S. Treasuries