Real Estate & Home

Mortgage rates now closer to 7% than 6% as the Iran war escalates

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Mortgage rates have surged to 6.62%, driven by escalating tensions with Iran, marking a significant increase from below 6% just weeks ago. This rapid rise in rates could dampen the housing market's promising growth trajectory despite favorable economic conditions earlier this year. Developers and tech professionals should monitor further geopolitical developments for potential impacts on mortgage rates and homebuyer demand.

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