Mortgage rates fall to lowest level in over a month as Iran deal framework takes shape

The average 30-year fixed mortgage rate fell to 6.47% this week from 6.52% last week, according to Freddie Mac. The 5 basis-point decline is a modest positive for housing affordability and mortgage demand, but the move is small and likely not market-moving.

Analysis

The average 30-year fixed mortgage rate fell to 6.47% this week from 6.52% last week, according to Freddie Mac. The 5 basis-point decline is a modest positive for housing affordability and mortgage demand, but the move is small and likely not market-moving.