National mortgage rates were mostly lower compared to last week, according to Bankrate data. Average rates for 30-year fixed, 15-year fixed and 5/1 ARM receded, while jumbo loan rates moved higher.

Rates are still rising as the Iran War has no end in sight.Rates are fluctuating as investors wait to see whether the Iran War ceasefire talks will proceed. The yield on the 10-year Treasury bond, which fixed-rate mortgages are set by, has sunk since mid-May, coming down from 4.66% to 4.45% as of May 29. This dip has led to a slight decline in rates. However, a meaningful rate drop hinges on the end of the war and declining gas prices.

 

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