Mortgage rates
A third place the Iran war is poised to take an even bigger financial toll on Americans is in the mortgage market.
The average interest rate on a 30-year fixed mortgage has climbed a full half point since the war began, from just under 6% the day before the U.S. attacked Iran, to 6.53% on Friday.
The higher mortgage rates add another layer of pressure on would-be homebuyers just as the peak real estate season of the year gets underway.
Just a month ago, investors were expecting the Federal Reserve to cut its fed-funds interest rate at least once, if not twice this year, a move that would influence interest rates overall and indirectly drive down the cost of buying a home.
But now, growing fears of inflation caused by higher gas prices that in turn drive up the costs of shipping, food and heating are shifting expectations.
The odds of a rate
...Keep reading this article on NBC News.
