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U.S. mortgage rates have surged, with the 30-year fixed rate climbing to 6.74% amid the renewed escalation of the conflict in Iran.
U.S. mortgage rates surged on Wednesday. The 30-year fixed-rate mortgage rose to 6.74%, up 15 basis points from yesterday; the 15-year fixed-rate mortgage climbed to 6.16%, an increase of 16 basis points; and the 5/1 ARM reached 6.46%, up 24 basis points from Tuesday. This rate hike comes amidst the ongoing escalation of tensions in the Middle East.
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