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Mortgage Rates Climb to 6.11% Amid Rising Tensions with Iran

KVIA••CNN Newsource
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Mortgage rates in the U.S. have risen to 6.11% as of March 12, reversing recent improvements in housing affordability due to geopolitical tensions from the conflict involving Iran. This increase marks the highest weekly jump since April, driven by rising U.S. Treasury yields, which have surged following military actions in the region. The rise in rates could hinder potential homebuyers, especially first-time buyers, as the spring home-buying season approaches. Experts warn that prolonged conflict may keep inflation concerns high, further complicating the housing market and potentially leading to even higher mortgage rates.

Key Details: • Current mortgage rate is 6.11% as of March 12. • The increase is the largest since April, affecting housing affordability. • Potential buyers should be aware of rising rates as the spring buying season nears. • Experts suggest that ongoing geopolitical tensions may further impact mortgage rates.

economy mortgage housing-market iran inflation

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