"The average rate on a 30-year fixed-rate mortgage fell to 6.10% APR in the week ending April 23, according to rates provided to NerdWallet by Zillow. Even though rates are lower than they were a month ago, with the war in Iran unresolved and economic uncertainty souring consumer sentiment, this spring may not feel like a good time to buy a home."
"Next week's meeting of the Federal Reserve shouldn't affect mortgage rates. For one, markets widely expect the central bankers to hold the federal funds rate steady. Two, the Fed doesn't set mortgage rates. Its decisions around short-term borrowing are like regular check-ups on the economy, and mortgage rates may rise or fall depending on the prognosis."
"Mortgage rates have been heavily influenced by the Iran war since its onset, as bond markets - which mortgage rates track - have struggled due to inflation fears. We've seen some relief in April as the bond market has calmed, though daily ups and downs continue to be dictated by the headlines coming out of the Middle East."
Mortgage interest rates have decreased slightly to 6.10% APR as of April 23, influenced by the extended Iran ceasefire. Despite lower rates compared to last month, economic uncertainty and the unresolved war in Iran may deter home buying this spring. The Federal Reserve's upcoming meeting is unlikely to impact mortgage rates, as they are not directly set by the Fed. The bond market's reaction to inflation fears has historically affected mortgage rates, leading to fluctuations based on current events.
Read at SFGATE
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