Trump’s Reckless War Is Throttling New Homes and New Jobs
The ongoing conflict between the US and Iran is causing economic concerns, with rising mortgage rates and a potential loss of jobs. The average 30-year fixed mortgage rate has increased to 6.38 percent, and financial services firm Goldman Sachs estimates the global oil shock will cost the US an additional 10,000 jobs per month.
The US-Iran conflict is affecting the economy. Mortgage rates have risen to 6.38 percent. This increase is tied to the 10-year Treasury yield and concerns about inflation. The yield on a 10-year Treasury note has risen to 4.44 percent. Foreclosure rates are also increasing. Goldman Sachs estimates the global oil shock will cost the US 10,000 jobs per month. The conflict is expected to impact consumer spending and home sales.
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