Freddie Mac reported a decrease in mortgage rates this week, with the average rate for a 30-year fixed mortgage falling to 6.3%, down from 6.37% last week and significantly lower than 6.83% a year ago. The average rate for a 15-year fixed mortgage also saw a decline, now at 5.65% compared to 5.74% previously. This improvement is particularly beneficial for homebuyers during the typically busy spring homebuying season, according to Sam Khater, Freddie Mac's chief economist. The fluctuation in mortgage rates is influenced by various factors, notably the Federal Reserve's actions and geopolitical events. The recent decline in rates follows a two-week ceasefire between the U.S. and Iran, facilitated by Pakistan, which the White House has framed as a step towards broader negotiations.