Mortgage rates surpass 7% in blow to housing market
Mortgage rates in the United States have surpassed 7% for the first time in nearly two years, as the housing market continues to reel from the ongoing Iran war.
TL;DR
- US mortgage rates have surpassed 7%.
- This is the first time rates have exceeded 7% since January 2025.
- Average 30-year mortgage rate increased from 6.3% to 7.03% in one year.
- The housing market is experiencing difficulties.
- The Iran war is mentioned as a factor affecting the housing market.