War with Iran drives US mortgage rates higher for fourth-straight week
The US housing market is facing challenges due to economic uncertainty and rising mortgage rates, fueled by the US-Israeli war in Iran. The average 30-year fixed mortgage rate has risen to 6.38%, making it harder for American homebuyers to afford homes.
The US housing market is experiencing a slowdown due to economic uncertainty and rising mortgage rates. The average 30-year fixed mortgage rate has risen to 6.38%, the largest one-week jump since April 2025. This increase is attributed to the conflict in Iran and a weakening job market, making buyers more cautious. The housing market usually gains momentum in the spring, but the current volatility may affect demand. Despite this, conditions are more favorable for buyers in 2026, with more homeowners listing their homes and slower rising home prices.
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