"The threat of higher-for-longer oil prices continued to keep Treasury yields elevated, and mortgage rates finished last week higher. Higher mortgage rates, coupled with affordability constraints and economic uncertainty, pushed some potential homebuyers to the sidelines."
"The 30-year fixed mortgage rate rose to 6.43% last week. That's more than 30 basis points higher than at the end of last month-and its highest level since October 2025."
"The U.S. housing market was already under pressure before the war's start due to a dire housing shortage and concerns about the job market, especially among younger prospective buyers."
"We aren't expecting any relief in the short term."
The ongoing war in the Middle East has led to a rise in mortgage rates in the U.S., with the 30-year fixed mortgage rate reaching 6.43%. This increase is attributed to elevated oil prices and a shipping crisis in the Strait of Hormuz. The 10-year Treasury note has also risen, influencing mortgage rates. The U.S. housing market was already facing challenges due to a housing shortage and economic uncertainty, making it difficult for potential homebuyers to enter the market.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]