Mortgage Rates Rise to Four-Week High Amid Iran Tensions
Mortgage rates increased to 6.45% for the 30-year fixed mortgage, the highest since April 3, driven by rising geopolitical tensions over Iran. The increase followed President Trump's statement on maintaining the U.S. naval blockade, which led to higher oil prices and bond yields. Mortgage applications rose 21% year-over-year despite higher rates.
Topics: bond yields economic uncertainty housing market Iran tensions mortgage rates