06/16/2026
Many people expected mortgage rates to take a Cristiano Ronaldo bicycle-kick-level dive after the Iran peace deal was confirmed.
The bond market's response? "Meh."
The reason is actually pretty simple: markets had already started pricing in a peace deal last week, so by the time the news became official, much of the impact was already baked in.
The good news? Rates still improved enough to hit their lowest levels in about a month, landing around 6.56%.
With the World Cup in full swing, here's the soccer version: rates have finally advanced past midfield and are making a run toward the box. That's a lot better than where we were a few weeks ago, but we're not doing knee slides across the pitch or lifting trophies just yet.
If you have buyers who have been sitting on the sidelines waiting for the "perfect" rate, now is a great time to revisit the conversation. And if you have a client who needs help getting approved, let's connect and see what options might be available.
Note: Rates shown are for informational purposes only and are subject to change. Approval is not guaranteed and is based on borrower qualifications and program guidelines.
