USA: 30-Year Mortgage Rate Eases.

The average rate on a 30-year fixed-mortgage fell by 5bps to 6.47% on the third week of June, according to data compiled by Freddie Mac. The result was in line with the pullback for longer maturity Treasury yields as optimistic signals for an agreement between the Iran and US lowered energy prices and reduced the urgency for the Federal Reserve to raise interest rates. “The 30-year fixed-rate mortgage decreased this week averaging 6.47%,” said Sam Khater, Freddie Mac’s Chief Economist. “Incoming data continues to reflect a resilient consumer, with retail sales improving and pending home sales strengthening, suggesting purchase demand is continuing to modestly improve."