03/25/2026
For those of you that think the Iran war doesn’t affect us here in the USA! Not only is gas gone up over $1 per gallon now interest rates are going up too!
Unlucky Buyers See Interest Rates Surge
Mortgage rates surged on Friday, March 13th, as bond markets reacted to the Iran conflict. The average rate on the 30-year fixed loan hit 6.41%, which is the highest rate since the first week of September 2025.
Even as rates began rising last week, mortgage demand from homebuyers rose, according to the Mortgage Bankers Association. However, this week's surge in rates could put another damper on the spring home buying season.
For someone buying a $400,000 home around the national median price, with 20% down on a 30-year fixed mortgage, the monthly payment is now about $115 more than it would have been two weeks ago.