How the Iran War Could Crush the U.S. Housing Recovery, and Not Just Mortgage Rates

How the Iran war could crush the U.S. housing recovery, and not just mortgage rates

A combination of higher mortgage rates and economic uncertainty are reversing what was expected to be a recovery year in the housing market.

Trump Iran War Hits Housing — Mortgage Rates Jump Back To 7% - iShares U.S. Home Construction ETF (BATS:ITB), State Street SPDR S&P Homebuilders ETF (ARCA:XHB)

President Donald Trump's war with Iran is now rippling far beyond geopolitics and the global energy industry—and into the U.S. housing market. The 30-year fixed mortgage rate, a key barometer of home affordability in the U.S., has jumped back to the psychologically crucial 7% for the first time since August, according to Barchart. And this time, the move isn't being driven by the Federal Reserve—it's being propelled by the bond market, where yie…

No, Mortgage Rates Are Not Back to 7% Again

There are charts floating around (again) claiming that the 30-year fixed mortgage is back to 7%. These are hyperbolic and misleading and being used to sow fear and doom related to the recent uptick in rates. In reality, mortgage rates are about a half-point higher than they were a month ago, but nowhere close to… Read More »No, Mortgage Rates Are Not Back to 7% Again The post No, Mortgage Rates Are Not Back to 7% Again appeared first on The Trut…

Mortgage rates rise as Treasury yields hit 8-month high

With little to suggest that the U.S.-Iran conflict will end soon — and with crude-oil prices rising to more than $100 per barrel — mortgage rates took a beating in the past week as Treasury yields rose to their highest point since last July. Mortgage News Daily (MND) reported that 30-year fixed rates averaged 6.49% on Monday — up 13 basis points in the past week and 50 bps higher than when rates bottomed out at 5.99% at the end of February. MND …