Overview
- Average 30-year purchase rates sit at 6.12% per Zillow, up from 5.99% earlier in the week, with 15-year loans holding near 5.50%.
- Refinance terms remain costlier, with the 30-year refi average at 6.67%, and mortgage applications recently rose 1.8% on a weekly gain led by a 5% jump in refis.
- HousingWire reports the U.S.–Iran ceasefire was set to expire and, citing the Associated Press, says an extension looked unlikely, a scenario that could push rates higher.
- Market odds show less than a 1% chance of a Fed cut at next week’s meeting, so mortgage pricing is likely to follow Treasury yields and headline risk.
- Rate trackers vary, with Mortgage News Daily at 6.30% and HousingWire’s conforming average at 6.42%, which is why shopping lenders and using a rate lock can secure better-than-average deals.