Washington —
US mortgage rates climbed this week as investors fret the economic impact of President Donald Trump’s war on Iran, undoing some of the welcomed progress in housing affordability.
The average rate of a standard, 30-year fixed mortgage was 6.11% in the week ending March 12, according to a survey of lenders by Freddie Mac released Thursday. That was biggest weekly increase since April, when Trump’s “Liberation Day” tariffs caused bond yields to spike.
Just two weeks ago, the average rate slipped below 6% for the first time since 2022, crossing a key