Geopolitical Tensions Drive Mortgage Rates Higher as Iran Fallout Looms

Mortgage rates edged higher this week as renewed US-Iran tensions and rising oil prices pushed bond yields higher. Freddie Mac puts the 30-year fixed average at 6.49% (up from 6.43%), with current lender quotes showing roughly 6.35% for a 30-year fixed, 6.21% for 20-year, and 5.94% for 15-year; refinance rates are typically a touch higher, around 6.4% for a 30-year loan. Market moves, fueled by concerns about inflation, prompted economists to note that rates had been retreating, but Iran's deteriorating ceasefire situation reversed that trend. The piece also covers rate determinants (down payments, credit scores, loan type) and advises shoppers to compare lenders for the best deal.