The national average 30-year fixed mortgage rate declined seven basis points this week and now sits at 6.3%, according to Freddie Mac. This comes after Freddie Mac reported mortgage rates increasing for five consecutive weeks. The war with Iran has been a major factor in rising mortgage rates, but signs of improved sentiment are helping mortgage rates decrease. Experts suggest that for mortgage rates to decrease significantly, inflation would need to decrease and the Federal Reserve would also need to take a more benign policy approach to changing the federal funds rate. However, if rates continue to fall, there is a good chance that rates may need to be increased to keep inflation down.