Posted on 06/12/2026 9:28:13 AM PDT by CondoleezzaProtege
The housing market was expected to rebound this year, but the Iran war has changed that trajectory...
In early June, the average 30-year fixed-rate was 6.52%, according to Freddie Mac. Just before the war began, rates fell below 6% for the first time in years...
The rate environment is typically driven by numerous economic and political events, but the war is driving the movement now, Joel Berner, senior economist at Realtor.com, said.
“Over the last couple of months, the rate market has been held hostage by this conflict in Iran,” he said. “When it looks like a ceasefire is in place and going to stay, rates come down. When it seems like something bad happens or conversations break down, rates go up.”
Rates are likely to remain in the mid-6% range as the war continues, Berner said, higher than experts predicted but lower than last year’s numbers — rates were over 6.7% for most of 2025.
“But unfortunately, I think it just kind of presses pause on the major housing rebound.” ...
If you’ve been waiting for the best deal on a home purchase, there are ways to get a rate that is significantly lower than the average conventional mortgage rate. Different loan types and lenders can provide you with a rate that may make it possible for you to afford the home you want before rates drop. Below, CNBC Select explains how.
(Excerpt) Read more at cnbc.com ...
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