Mortgage Rates Jump Again as Iran War Effects Ripple Through Housing Market
The war in the Middle East continued to weigh on the U.S. housing market, as mortgage rates climbed for the fourth week in a row, squeezing Americans already struggling with high housing costs.
The average 30-year, fixed-rate mortgage rate climbed to 6.38 percent, according to the mortgage-financing giant Freddie Mac, up from 6.22 percent the week before and the highest level since the first week of September.
That rate is still significantly below its peak of 7.79 percent in October 2023. Until the war started, rates had been gradually declining, falling below 6 percent in the last week of February. The drop in rates had offered hope that more prospective buyers would enter the market, but rates have since marched steadily higher.
Mortgage rates are influenced by the yield on the 10-year Treasury note, which has risen as the war deepens uncertainty for investors. Bond yields have jumped in the past few weeks, hitting 4.38 percent on Thursday, up from just under 4 percent before the war began. Disruptions to energy supplies from the Middle East have led to surging oil and gas prices, intensifying fears of higher inflation.
https://www.nytimes.com/2026/03/26/business/mortgage-rates-middle-east-war.html
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