Mortgage Rates Fall After Trump Ceasefire News
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- Mortgage rates began the day flat, matching yesterday’s levels before a mid‑day shift.
- Trump announced the cancellation of planned air strikes and a permanent ceasefire, prompting markets to rally and bond yields to fall.
- Mortgage lenders adjusted their daily rate offerings in response to the bond‑market move, revising rates mid‑day.
- Average lender rate fell to a one‑week low, reaching 6.60% for the 30‑year fixed, a decline of 0.07% (seven basis points) from the prior level.
- MBS & Treasury prices rose, with the UMBS 30‑year at 98.13 (+0.59) and the 10‑year Treasury at 97.254 (+0.676), reflecting the bond‑market shift.
Why it matters: Homebuyers benefit from the 0.07% drop, reducing monthly payments, while lenders see tighter margins as rates fall. The bond‑market shift also lifts MBS and Treasury prices, affecting investors in those securities.
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