U.S. 30-Year Mortgage Rates Fall This Week, But Further Declines Likely Limited by Uncertainty
- 30-year fixed-rate mortgage fell to 6.23% this week, down from 6.30% the previous week, according to data released by Freddie Mac on Thursday, April 23, 2026.
- The decline marks a continuation of recent volatility in mortgage rates, which had risen to an average of 6.46% at the beginning of April before easing slightly.
- Treasury yields, which have remained range-bound amid ongoing uncertainty over the fragile ceasefire between Washington and Iran.
The average rate on the popular U.S. 30-year fixed-rate mortgage fell to 6.23% this week, down from 6.30% the previous week, according to data released by Freddie Mac on Thursday, April 23, 2026.
The decline marks a continuation of recent volatility in mortgage rates, which had risen to an average of 6.46% at the beginning of April before easing slightly. Just before the U.S. And Israel attacked Iran at the end of February, the rate averaged 5.98%, reflecting lower levels prior to increased geopolitical tensions in the region.
Mortgage rates continue to track movements in U.S. Treasury yields, which have remained range-bound amid ongoing uncertainty over the fragile ceasefire between Washington and Iran. Despite the Trump administration’s decision to indefinitely extend the ceasefire on Tuesday, a U.S. Navy blockade of Iranian ports remains in effect, contributing to market instability.
On Thursday, President Trump directed the U.S. Navy to “shoot and kill any boat” laying mines in the Strait of Hormuz, a statement that coincided with a rise in global oil prices and added to financial market concerns. These developments have limited the potential for further declines in mortgage rates, even as housing finance agencies continue to adjust their policies.
Freddie Mac and Fannie Mae have expanded purchases of mortgage-backed securities in recent months, a move intended to support liquidity in the housing finance system. U.S. Government officials confirmed on Wednesday that the agencies are now accepting alternative credit scores that factor in rent and utility payment histories, broadening access to mortgage financing for some borrowers.