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. Despite this, conditions are more favorable for buyers in 2026, with home prices rising at a slower pace than overall inflation and wages continuing to grow. More homeowners are listing their homes, giving buyers more options. However, the recent rise in mortgage rates may impact home sales, with mortgage applications falling by 10.5% last week.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.