Iran Conflict Drives Up Mortgage Rates Due to Rising Oil Prices
The ongoing conflict in Iran is pushing oil prices higher, contributing to inflation and preventing the Federal Reserve from cutting interest rates, which keeps mortgage rates elevated. This is making homebuying more expensive in the U.S. housing market. Mortgage rates have risen from below 6% to around 6.5% in recent weeks.
Topics: housing_market inflation iran_conflict mortgage_rates oil_prices