Average US mortgage rates climbed again for the fifth week in a row, making homebuying more expensive than it was just a few weeks ago, before the outbreak of war with Iran.
The average 30-year fixed mortgage rate rose to 6.46% this week, jumping from 6.38% the previous week and reaching the highest level in seven months, according to Freddie Mac.
The rise may be unwelcome news for those hoping to buy a home this spring, typically the busiest time of year for the housing market. During the last week of February, before the US-Israeli attack on Iran, the average 30-year mortgage rate was 5.98%.