Rates just dropped to the lowest level in a week

Today's average 30-year fixed rate is 6.5%, down from where we started the week. That's the lowest we've been in seven days. The reason: diplomatic progress on Iran pushed the government bond market up, and mortgage rates move with those bonds. Friday's jobs report sent rates spiking, but today erased most of that.

What it means for you: a buyer financing $600,000 saves about $90 a month compared to Friday's spike, or roughly $1,100 a year. That's real money. The catch is that geopolitical news moves fast, both directions. If you're ready to lock, this is a window. If you're still shopping, at least you know what today buys you.

I answer my own phone. If you want to run your actual budget and see what this rate does to your monthly number, call me at (949) 350-8005. No signup, no pitch, just the math. Informational only, not a commitment to lend, rates subject to change. Brett Hickman, NMLS 2010859. Equal Housing Opportunity.