- Fresh strikes between US and Iranian forces lifted crude above $90, with investor attention focused on the Strait of Hormuz, which controls one-fifth of global oil flows.
- The Iran war’s oil-price surge has pushed bond yields higher and lifted the average 30-year fixed mortgage rate to 6.87%, its highest level since June 2025.
- The 30-year fixed mortgage rate has risen 12 basis points since Thursday and more than 30 basis points over two months, increasing affordability pressure on US homebuyers.
Quotes
“Instead, it's been more of a slow grind fueled by the usual suspects: inflation expectations, elevated bond issuance, and economic resilience.”
“As financing costs are kept high for prospective buyers, current homeowners remain reluctant to give up the low mortgage rates secured in prior years.”