Mortgage rates fall to lowest level in over a month as Iran deal framework takes shape
US mortgage rates have reached their lowest point in over a month. This decline follows a preliminary agreement between the US and Iran. The trend partially reverses rate increases that occurred after the Iran war began.
What changed
New data indicates rates began pricing in the peace deal last Thursday.
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Mortgage Rates Hit One-Month Low Following Iran Peace Deal
confidence 90%US mortgage rates have reached their lowest point in over a month. This decline follows a preliminary agreement between the US and Iran. The trend partially reverses rate increases that occurred after the Iran war began.
What's confirmed:
- The average 30-year fixed mortgage rate fell to 6.47%.
- Mortgage rates reached their lowest level in more than a month.
Still unconfirmed:
- The Mortgage News Daily rate index hit 6.56% on June 15, 2026.
- Rates had begun pricing in the peace deal the previous Thursday.
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Mortgage rates hit one-month low amid US-Iran agreement framework
confidence 80%US mortgage rates dropped to their lowest level in over a month following a preliminary agreement between the US and Iran. Freddie Mac data shows the average 30-year fixed rate fell to 6.47%. This decline aligns with a retreat in Treasury yields.
What's confirmed:
- The average 30-year fixed mortgage rate fell to 6.47% from 6.52% the previous week according to Freddie Mac.
- A preliminary US-Iran agreement contributed to the decline in rates and Treasury yields.
Still unconfirmed:
- The 30-year fixed rate was 6.81% one year ago.
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US Mortgage Rates Hit One-Month Low Following Iran Peace Framework
confidence 90%Mortgage rates declined to their lowest level in over a month as a peace deal between the US and Iran took shape. Freddie Mac reported the average 30-year fixed mortgage rate fell to 6.47% from 6.52% the previous week. The drop follows a retreat in Treasury yields and easing geopolitical tensions.
What's confirmed:
- The average rate on a 30-year fixed mortgage declined to 6.47% from 6.52% the previous week.
- Mortgage rates reached their lowest level in more than a month.
- The decline in rates coincided with the announcement of a deal to end the war with Iran.
- Average long-term US mortgage rates tracked retreating Treasury yields.
Still unconfirmed:
- A potential Fed rate hike may cloud the future outlook for mortgage rates.
- Inflation concerns caused rates to tick higher on June 19.
- The 30-year refinance rate rose by 26 basis points on June 21.
- Existing home sales have been stuck near a 4 million annual pace.