The Iran war's impact on mortgage rates

Mortgage interest rates dropped below the 6% threshold on February 26, hitting 5.98%: a four-year low and a genuine psychological milestone for buyers. Then, U.S.-Israel strikes on Iran begin two days later. The price of oil spiked, bond yields climbed, and it wasn’t long before we saw mortgage rates rising. If you were about to pull the trigger on a home purchase, this probably felt like terrible timing. Why should I buy a home now?, you’re probably asking yourself.

But here’s the thing that higher Iran war mortgage rates can’t erase: You likely have a lot more purchasing power today than you did a year ago. Learn why by reading my latest article for Better.com, available here.