Mortgage rates eased up a bit this week, as markets are no longer panicking at each new development — or social media post — related to the Iran war. The conflict is still exerting a huge influence on rates, though lately the daily ups and downs have mostly canceled each other out.
The average rate on a 30-year fixed-rate mortgage fell eight basis points to 6.37% APR in the week ending June 5, according to rates provided to NerdWallet by Zillow. (A basis point is one one-hundredth of a percentage point.) We calculate our weekly average using daily APRs recorded over the past five business days.
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