Sub-6% Mortgage Rates Vanish as Iran War Sparks Inflation Fears

US homebuyers had to act fast last week to nab the first sub-6% mortgage rates in more than three years. Now they’re up, and the new conflict in the Middle East threatens to nudge them higher.

The average for 30-year, fixed loans climbed to 6% from 5.98% last week, which was the lowest point since September 2022, data from Freddie Mac showed Thursday. A year ago, it was 6.63%.