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Rates Rise as Global Tensions Mount | Real Estate News
Mortgage rates are climbing back toward 7%, fueled by rising oil prices, inflation fears, and surging Treasury bonds—making home buying tougher after a sluggish spring. Global tensions in the Middle East are rattling markets, pushing investors toward caution and keeping borrowing costs high. With gas and mortgage payments both soaring, buyers are feeling the squeeze. The Fed’s next meeting brings no hope of relief—some even expect another rate hike. While pending home sales hit a three-month low, mortgage applications edged up, especially for fixer-uppers as buyers avoid costly renovations…
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