- US mortgage rates have seen a significant increase this week, with the average rate on a 30-year fixed mortgage rising to 6.38%.
- According to Fox Business, this surge is attributed to the ongoing conflict in Iran.
- The conflict is causing fears of rampant inflation, which is unsettling bond investors.
- Elevated energy prices, a direct result of the conflict, are impacting the cost of goods.
- As Fox Business reported, these higher energy prices are also making borrowing more expensive.
US Mortgage Rates Jump Amid Iran Conflict
US mortgage rates have surged this week, with the average 30-year fixed mortgage climbing to 6.38%. This significant increase is attributed to the ongoing conflict in Iran, which is sparking inflation fears among bond investors and driving up energy prices, ultimately making borrowing more expensive.
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