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Mortgage Rates Surge Amid Global Tensions | Real Estate News
Mortgage rates just hit a six-year high at 6.71%, fueled by Middle East tensions that are rattling the bond market and pushing borrowing costs skyward. With inflation fears on the rise after U.S. strikes on Iran, oil prices are climbing — feeding into higher Treasury yields and squeezing homebuyers from both sides: soaring loan costs and shrinking buying power. The Fed is watching closely, with Chairman Warsh warning inflation may still be too high, and traders now betting a 50-50 chance of another rate hike in September. Even as home prices dip and sellers adjust, elevated rates could still…
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