Mortgage rates jumped back above 6 percent this week as a result of growing inflation fears as oil prices climbed after the U.S. and Israel intensified their war with Iran.
As of Monday, the average 30-year fixed-mortgage rate was 6.12 percent, according to the latest data by Mortgage News Daily, up 0.13 percentage points from the previous day. For hundreds of thousands of would-be homebuyers in the U.S., this is a blow: the move came just days after rates briefly dipped below 6 percent for the first time since 2022, a psychologically important threshold for buyers heading into the spring selling season.
But experts are not sure whether this sudden climb in mortgage rates is just a
How Iran Crisis Could Hit US Mortgages
