"The war with Iran is expected to drive energy prices up nearly 24%, with expectations for prices to reach their highest levels since Russia's invasion of Ukraine in 2022."
"The war is hitting the global economy in cumulative waves: first through higher energy prices, then higher food prices, and finally, higher inflation, which will push up interest rates and make debt even more expensive."
"Professionals in the housing space are unsurprised by current rate levels, given ongoing elevated inflation and wartime tensions. But mortgage applications are back on the upswing with a 7.9% increase last week."
Interest rates remain stable amid escalating tensions in Iran, with President Trump noting Iran's precarious situation. A World Bank report predicts a 24% rise in energy prices due to the conflict, impacting the global economy through increased inflation and higher interest rates. The Federal Reserve is expected to maintain its interest rate range, while mortgage applications have risen by 7.9% following lower rates influenced by a ceasefire in the Middle East. The economic landscape is shaped by these geopolitical and financial factors.
Read at www.housingwire.com
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