Mortgage rates have fallen to their lowest level in more than a month as hope of a resolution to the Iran war ripples through financial markets. The average interest rate on a 30-year fixed mortgage stands at 6.54%, dropping from a rate as high as 6.68% in mid-May, Mortgage News Daily data this week showed. Still, mortgage rates stand well above their level before the war. Prior to the Middle East conflict in late February, a 30-year fixed mortgage clocked in at an average just below 6%.

 

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