US EditionAverage US long-term mortgage rate leaps to 6.38%, the highest level in more than 6 months
Mortgage rates rose to 6.38% as inflation fears and oil prices surged amid Iran conflict, causing a 10.5% drop in mortgage applications, Mortgage Bankers Association reported.
- Freddie Mac reported the benchmark 30-year fixed-rate mortgage rose to 6.38% from 6.22% last week, marking the highest level in over six months.
- Rising oil prices due to the war with Iran have increased inflation expectations, pushing 10-year Treasury yields to 4.39% from around 4.26% last week.
- Mortgage applications fell 10.5% last week, according to the Mortgage Bankers Association, with MBA CEO Bob Broeksmit stating that affordability pressures and economic uncertainty are prompting buyers to delay decisions.
- The Federal Reserve decided to hold interest rates steady last week, as Chair Jerome Powell highlighted an increasingly uncertain economic outlook following the Iran war.
- Sales of previously occupied homes remain stuck at a 30-year low despite current mortgage rates averaging 6.38%, below the 6.65% recorded one year ago.
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50 Articles
Why mortgage costs are climbing again in the U.S.
U.S. long‑term mortgage rates have been rising and that is making it more expensive to borrow money for a home. The national average interest rate for a 30‑year fixed mortgage climbed to about 6.38%, its highest level in more than six months. The increase comes after several weeks of steady rises.
By Samantha Delouya, CNN. The U.S. housing market was supposed to rebound this year, but economic uncertainty and rising mortgage rates, fueled by the U.S.-Israeli trade war with Iran, are making homes more affordable for American buyers. After years of sluggish sales, economists had expected mortgage rates to fall and the housing supply to increase by 2026, revitalizing the market after real estate transactions plunged to a 30-year low last yea…
Mortgage rates hit highest since October as war lifts bond yields | Honolulu Star-Advertiser
The interest rate on the most popular U.S. home loan surged by the most in 11 months last week to the highest since October as rising oil prices from the war in Iran fanned inflation fears, forcing up yields on the Treasury bonds most influential to mortgage rates.
Pittsburgh Post-Gazette
The BladeAverage U.S. long-term mortgage rate leaps to 6.38%, the highest level in more than 6 months
The average long-term U.S. mortgage rate climbed this week to its highest level in more than six months, driving up borrowing costs during what’s...
Mortgage rates jump as Iran conflict hits housing market
Mortgage rates spiked this week as the conflict in Iran continues to weigh on markets, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.38% from last week's reading of 6.22%. The average rate on a 30-year loan was 6.65% a year ago."The housing market continues to show gradual improvements compared to a year ag…
Rising Oil Prices Drive U.S. Mortgage Rates to Six-Month High
The average U.S. 30-year fixed-rate mortgage has surged to a six-month high due to rising oil prices and Middle East tensions. This increase is impacting home sales during the spring season and highlighting housing affordability as a key political issue ahead of the November midterm elections.
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