President Donald Trump‘s war with Iran is now rippling far beyond geopolitics and the global energy industry—and into the U.S. housing market.
The 30-year fixed mortgage rate, a key barometer of home affordability in the U.S., has jumped back to the psychologically crucial 7% for the first time since August, according to Barchart. And this time, the move isn’t being driven by the Federal Reserve—it’s being propelled by the bond market, where yields have climbed sharply amid fears that the surge in energy costs triggered by the Iran war will fuel an inflation spike.
What started as a geopolitical flare-up is now hitting American homebuyers directly. Mortgage rates at 7% or higher have historically been seen as a meaningful blow to affordability for the average homebuyer.
“With rates this high, affordability will take another hit,” Jim Osman, founder of specialist investment research firm The Edge Group, wrote in an X.com post, responding to a Barchart post …
This post was originally published here
