U.S. mortgage rates rise to 6.52%, nearing yearly high amid elevated borrowing costs tied to Iran conflict
By
Alex Veiga
Summary
The average 30-year fixed-rate U.S. mortgage rose to 6.52% from 6.48% last week, nearing its yearly high. The increase is attributed to ongoing geopolitical tensions (war with Iran) keeping borrowing costs elevated. Despite the rise, rates remain below the 6.84% level from a year ago. The article explains that mortgage rates are influenced by Federal Reserve policy decisions and bond market investor expectations for the economy and inflation.
Source
bskyU.S. mortgage rates rise to 6.52%, nearing yearly high amid elevated borrowing costs tied to Iran conflictbit.lyKey quotes
· 3 pulledThe average long-term U.S. mortgage rate ticked up this week to just below its high for the year, the latest sign that borrowing costs on home loans remain elevated relative to where they were before the war with Iran started.
The benchmark 30-year fixed rate mortgage rate rose to 6.52% from 6.48% last week, mortgage buyer Freddie Mac said Thursday.
Mortgage rates are influenced by several factors, from the Federal Reserve's interest rate policy decisions to bond market investors' expectations for the economy and inflation.
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