Mortgage Rates Hit Four-Week Low as Iran Tensions Ease

U.S. mortgage rates are influenced by Treasury yields and market demand for safe-haven assets, making them a key gauge of housing affordability. Freddie Mac’s weekly mortgage market survey shows that 30-year fixed rates remain relatively high, so any decline could affect buyers’ monthly payments and spring homebuying demand.

The average U.S. 30-year fixed mortgage rate fell to 6.3% this week, its lowest level in nearly four weeks, according to the latest Freddie Mac data. The decline came as investors responded positively to reports that the conflict involving Iran could be resolved, pushing market rates lower and providing a boost for the spring homebuying season.