Mortgage Rates Drop to 6.30% as Iran Ceasefire Persists

Mortgage rates fell to 6.30% for the week ending April 16, a four-week low and down from 6.37% the prior week, as the Iran ceasefire continued to ease oil prices, according to Freddie Mac. March existing home sales fell 3.6% to a seasonally adjusted annual rate of 3.98 million, with declines in all four regions. For sellers, timing is favorable: this week falls within Realtor. com's identified best week to sell, with listings historically receiving 16.7% more views and selling nine days faster. "For buyers, any ceasefire-driven dip in rates represents a potential window to lock in slightly more favorable financing," said Realtor. com senior economist Anthony Smith.