Key Takeaways Mortgage rates fell 11 basis points Monday—the biggest 1-day drop in 16 months—after climbing sharply through most of March. The dip appears tied to falling bond yields as markets react to signs the Iran conflict could de-escalate, with rates edging lower Tuesday. While rates may decline further, their path is unpredictable, so experts say focus on affordability and the right home, not perfect timing. Mortgage Rates Had Been Climbing for Weeks—Then Dropped 11 Basis Points in a Day ...