This week, the average long-term U.S. mortgage rate dropped, according to the Associated Press, retreating with Treasury yields following the announcement of a deal to end the war with Iran.
According to mortgage buyer Freddie Mac, the benchmark 30-year fixed-rate mortgage rate fell to 6.47% from last week’s 6.52%. That’s also down from one year ago, when the average rate was 6.81%.
Borrowing costs on 15-year fixed-rate mortgages were lower as well, dropping to 5.81% from last week’s 5.84%. One year ago, the average rate was 5.96%.
