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US fixed 30-year mortgage rate drops to four-week low

BY Reuters | AGENCY | 04/16/26 12:06 PM EDT

WASHINGTON, April 16 (Reuters) - The average rate on the popular U.S. 30-year fixed-rate mortgage fell to a four-week low this week, but remained well above its pre-war level.

The 30-year fixed mortgage rate averaged 6.30%, down from 6.37% last week, mortgage finance agency Freddie Mac said on Thursday. It averaged 5.98% on the eve of the U.S.-Israeli war with Iran as Freddie Mac and Fannie Mae expanded purchases of mortgage-backed securities.

The rate shot up to an average of 6.46% at the beginning of April. Mortgage rates track the benchmark 10-year Treasury yield, which has edged down on hopes that the conflict could soon end. Housing affordability has become ?an increasingly potent political issue ahead of the November midterm elections. (Reporting By Lucia Mutikani)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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