Mortgage rates climbed a seventh straight week to 7.40%, the highest in nearly three years, and the 10-year at 5.29% is the real culprit — up from 3.97% before the Iran war started, with oil feeding t

What happened: The average long-term US mortgage rate rose for a seventh straight week, with the 30-year fixed-rate mortgage climbing to 7.40% from 7.28%, its highest level in nearly three years. Key numbers: 30-year rate 7.40%, up from 7.28% last week and 6.30% a year ago. 15-year rate 6.73%, up from 6.60%. Highest since Nov. 16, 2023 (7.44%). Why it matters: Rising rates add hundreds of dollars in monthly costs, limiting buyers' purchasing power and pushing many to delay buying. Mortgage applications fell a fifth week and refinance applications hit their lowest level since January 2025. Coverage: 3 outlets in 24h

Rising US mortgage rate hits near 3-year high, signaling tighter housing affordability.

Rising US mortgage rate hits near 3-year high, signaling tighter housing affordability. — impact context not separately stored; see What changed.