The interest rate on the most popular U.S. home loan jumped last week to the highest since August, as rising oil prices from the U.S. and Israeli war on Iran fueled inflation fears and drove up yields on the Treasury bonds that lenders widely use as benchmarks for setting mortgage rates.
The Mortgage Bankers Association said Wednesday the contract rate on a 30-year, fixed-rate mortgage rose 14 basis points to 6.57% in the week ended March 27.
The last time the weekly rise was bigger was in the immediate aftermath of President Donald Trump’s
30-Year Mortgages Jump to 6.57%, Highest Since August
