US MORTGAGE RATE RISES TO NINE-MONTH HIGH, WORSENING AFFORDABILITY AGAIN
- NEWS Desk Global
- 21 hours ago
- 1 min read
The rate on the most popular U.S. residential real estate loan hit a nine-month high last week in another blow to home-ownership affordability, as the Iran war kept oil prices elevated, fueling inflation concerns and pushing up benchmark U.S. Treasury yields.
The average 30-year fixed-rate mortgage rose 9 basis points to 6.65% in the week ended May 22, the Mortgage Bankers Association said on Wednesday. It was last higher in August 2025, before the Federal Reserve began a series of interest rate cuts to head off further labor market weakening that for a time helped bring down 30-year mortgage rates to around 6% before President Donald Trump and Israel launched attacks on Iran in late February.
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