{"id":49448,"date":"2026-04-28T20:22:54","date_gmt":"2026-04-28T17:22:54","guid":{"rendered":"https:\/\/mk.gen.tr\/mortgage-rates-largely-unchanged-despite-iran-war-headlines\/"},"modified":"2026-04-28T20:22:54","modified_gmt":"2026-04-28T17:22:54","slug":"mortgage-rates-largely-unchanged-despite-iran-war-headlines","status":"publish","type":"post","link":"https:\/\/mk.gen.tr\/en\/mortgage-rates-largely-unchanged-despite-iran-war-headlines\/","title":{"rendered":"Mortgage rates largely unchanged despite Iran war headlines"},"content":{"rendered":"

Mortgage rate movement was quiet this week amid ongoing U.S. and Israeli operations in Iran. Mortgage <\/strong>News <\/strong>Daily (MND) reported Monday that 30-year fixed rates averaged 6.32%, up from 6.30% last week.<\/p>\n

MND\u2019s rate tracking refers to top-tier, 30-year fixed rates for the average lender. In its rate analysis, MND said that the \u201cabsence of meaningful movement in the underlying bond market is a testament to an increasingly high bar of relevance for war-related news. Specifically, the Iran war<\/a> is the main source of inspiration not only for oil prices, but also for the bonds that dictate interest rates.\u201d<\/p>\n

MND also described rates this week as being \u201cperfectly unchanged.\u201d<\/p>\n

Meanwhile, at\u00a0HousingWire<\/strong>\u2018s Mortgage Rates Center<\/a>, 30-year conforming loan rates averaged 6.39%, down 3 basis points (bps) from last week\u2019s figure<\/a> of 6.42%. Rates for 30-year Federal Housing Administration<\/strong>\u00a0(FHA) loans dropped to 6.13%, down 2 bps, while rates for jumbo loans were at 6.26%, down 3 bps.<\/p>\n

Calm rates come during a week where efforts to end the conflict in Iran appeared \u201cat an impasse,\u201d according to Reuters, with President Donald Trump<\/a> expressing dissatisfaction at the latest plans from \u200cTehran.<\/p>\n

In a post on Truth Social<\/strong> on Tuesday,\u00a0Trump\u00a0wrote that \u201cIran has just informed us that they are in a \u2018State of Collapse\u2019. They want us to \u2018Open the Hormuz Strait,\u2019 as soon as possible, as they \u200btry to figure out their leadership situation (Which I believe they will be able to do!).\u201d<\/p>\n

But the tide could change. According to a World Bank Group<\/strong> report<\/a> released Tuesday, the war with Iran is expected to drive energy prices up nearly 24%, with expectations for prices to reach their highest levels since Russia\u2019s invasion of Ukraine in 2022.<\/p>\n

\u201cThe war is hitting the global economy in cumulative waves: first through higher energy prices, then higher food prices, and finally,\u00a0higher inflation<\/a>, which will push up interest rates and make debt even more expensive,\u201d\u00a0said\u202fIndermit\u00a0Gill,\u202fthe World Bank Group\u2019s chief economist and senior vice president for development economics.<\/p>\n

Stability expected from the Fed<\/h2>\n

Aside from geopolitical tensions, the Federal Reserve<\/strong> is set to meet on Wednesday. The meeting could be Fed Chair Jerome Powell<\/a>\u2018s last meeting as his term is set to expire on May 15. It is unclear whether Powell will stay on as a member of the Fed\u2019s Board of Governors, despite the Department of Justice<\/strong> dropping its investigation<\/a> last week regarding cost overruns on the Fed\u2019s headquarters renovation.<\/p>\n

It is expected that the Fed will hold its benchmark overnight interest rate steady in the 3.50% to 3.75% range.<\/p>\n

Professionals in the housing space are unsurprised by current rate levels, given ongoing elevated inflation and wartime tensions. But mortgage applications are back on the upswing<\/a> with a 7.9% increase last week, according to data from the Mortgage Bankers Association<\/strong> (MBA<\/a>).<\/p>\n

\u201cLower mortgage rates last week, driven in part by the ceasefire in the Middle East, supported weekly and annual gains in both refinance and purchase activity, with purchase applications up 14% from a year ago,\u201d Bob Broeksmit<\/a>, the MBA\u2019s president and CEO, said in a statement. \u201cWhile geopolitical risks and uncertainty remain, a resilient labor market and increased inventory are supporting homebuyer demand.\u201d<\/p>\n

Ryan Lee Chapman, a loan officer at Hope Mortgage Solutions<\/strong>, said that markets \u201cremain nervous\u201d about the tensions and inflation. <\/p>\n

\u201cEven though the Fed is expected to leave things alone for now, investors are still worried inflation is hanging around longer than everyone hoped, especially with oil prices climbing and the economy continuing to show strength,\u201d Chapman said.<\/p>\n

Melissa Cohn, regional vice president at William Raveis Mortgage<\/strong>, said she expects rates to stay hovering above 6%.<\/p>\n

\u201cMortgage rates will continue to remain above 6% as the price of oil remains near $100 a barrel.\u00a0 Higher oil prices are inflationary, and until they come back down, mortgage rates will stay at today\u2019s higher levels,\u201d Cohn said. \u201cLet\u2019s just hope that they don\u2019t go even higher.\u201d<\/p>\n

Shmuel Shayowitz, president and chief lending officer for Approved Funding Corp.<\/strong>, said that he\u2019s watching for markets to react to the \u201cchange of the guards\u201d at the Fed.<\/p>\n

\u201cOn Wednesday, Fed Chair Powell will likely be presiding over his last FOMC meeting. I don\u2019t anticipate any moves by the Fed at that meeting, and his post-meeting comments will likely not mean much this time,\u201d Shayowitz said. <\/p>\n

Shayowitz said that he believes the current rate is \u201cmore reflective of FOMC positioning\u201d than anything else, and that he expects lower rates in the second half of this year.<\/p>\n

\u201cIt is now becoming very evident that a Warsh-led Fed will bring significant change per his testimony at the Senate<\/strong> Banking Committee,\u201d he added. \u201cWarsh noted that he would [be] willing to meaningfully reduce the central bank\u2019s balance sheet<\/a> and reconsider how inflation is calculated and the impact it might have on future Fed decisions on monetary policy.\u201d<\/p>","protected":false},"excerpt":{"rendered":"

Mortgage rate movement was quiet this week amid ongoing U.S. and Israeli operations in Iran. Mortgage News Daily (MND) reported Monday that 30-year fixed rates averaged 6.32%, up from 6.30% last week. MND\u2019s rate tracking refers to top-tier, 30-year fixed rates for the average lender. In its rate analysis, MND said that the \u201cabsence of…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/posts\/49448"}],"collection":[{"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/comments?post=49448"}],"version-history":[{"count":0,"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/posts\/49448\/revisions"}],"wp:attachment":[{"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/media?parent=49448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/categories?post=49448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/tags?post=49448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}