Derek McGowanLoan Officer / Owner, McGowan Mortgages · Branch Manager & Top-Ranked Mortgage Advisor

Breaking News from Iran Dropped Mortgage Rates! 📉

18 Apr 2026 · 1 min

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In this YouTube commentary, Derek McGowan reports that the reopening of the Strait of Hormuz and ongoing cease‑fire talks have eased oil‑driven inflation, causing U.S. mortgage rates to fall back toward the year’s lows. He challenges the common belief that the Federal Reserve alone determines mortgage rates, explaining how global oil supply disruptions previously pushed inflation and rates higher. With rates now lower, he highlights the implications for prospective homebuyers and current owners—citing Realtor.com data that 22% of homeowners still have mortgages above 6%—and points to increased refinancing opportunities. McGowan urges viewers to follow for more mortgage‑market updates.

Chapters

Breaking news out of Iran just dropped mortgage rates overnight. Now, I know many people believe that the Federal Reserve plays a big role in mortgage rates, and that's not necessarily always the case. But global conflict can swing things drastically, and it just did. So I know as of late, the Strait of Hormuz in the Middle East has been blocked off. Iran's had that, you know, stopped where that's a major thoroughfare for oil, and that's made inflation go higher, which makes mortgage rates go up. Inflation, the enemy of mortgage rates. However, the strait is now open again. There's been ceasefire talks through April 22nd, and the US believes they're coming to a resolution shortly. For the big picture, that would also help inflation. But at the moment, mortgage mortgage rates are now back closer to where they were at the lows of the year. What this does is for homeowners or potential homeowners that are on the fence, now things got a little bit more affordable. You can go afford a little bit more of a house. And for current homeowners, according to Realtor.com, 22% of homeowners right now have above a 6% mortgage rate. So as rates hopefully continue to get better, more refinance opportunities open up for you to continue to save. Follow us for more cutting-edge news on what's going on in the mortgage market.