Two-Week Ceasefire Eases Mortgage Rates After Five-Week Climb
LP
Lennox Prescott
SoFi · Apr 15, 2026
Source: DojiDoji Data Terminal
The average 30-year fixed-rate mortgage dropped to 6.37% from 6.46% last week, while the 15-year fixed-rate average eased to 5.74% from 5.77%. These declines follow five consecutive weeks of increases that pushed borrowing costs to their highest level in nearly seven months.
Bond yields began to ease this week after the U.S. and Iran agreed to a two-week ceasefire. The 10-year U.S. Treasury yield, which banks use to price home loans, fell to 4.28% from 4.3% a week ago. This volatility follows a period of instability triggered by the war with Iran, which pushed 10-year Treasury yields from 3.97% in late February to their recent peaks.
Inflation remains a constraint on further declines. Consumer prices rose 3.3% year over year in March, up from 2.4% in February, largely driven by energy prices. The Federal Reserve has held rates steady for the second time in 2026, citing its mandate to achieve a 2% inflation rate.
Mortgage applications fell 0.8% last week from the previous week.
SoFi30-year mortgage rate
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