Mortgage rates rise as Iran war fans inflation fears and lifts Treasury yields
CBSN
Mortgage rates in the U.S. jumped this week to the highest level in three months, as the Iran war fans inflation fears and puts pressure on the U.S. housing market. Edited by Alain Sherter In:
Mortgage rates in the U.S. jumped this week to the highest level in three months, as the Iran war fans inflation fears and puts pressure on the U.S. housing market.
The 30-year fixed mortgage rate rose to 6.22% in the week ending March 19, up from 6.11% the previous week, according to Freddie Mac.
Economists note that current borrowing costs remain well below the 6.67% rate on a conventional 30-year loan a year ago. Still, the latest uptick is a discouraging sign for house hunters as the spring buying season kicks off. In late February, mortgage rates fell below 6% for the first time since September 2022.
"Elevated uncertainty could once again sideline both buyers and sellers, echoing the hesitant market conditions seen last year," Anthony Smith, senior economist at Realtor.com, told the Associated Press.
Mortgage applications fell nearly 11% last week from the previous week, according to the Mortgage Bankers Association. New Census Bureau data also show that sales of new single-family homes dropped nearly 18% in January from the previous month and are down 11.3% from January 2025.
Washington — Two former FBI agents who helped investigate President Trump's efforts to overturn the 2020 presidential election results sued the federal government on Thursday, alleging they were wrongfully terminated simply because they worked on the probe.
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Higher U.S. gasoline prices stemming from the Iran war could effectively wipe out the fatter tax refunds many Americans are expected to collect this year, a new analysis found. Edited by Alain Sherter In:
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The FBI is investigating former National Counterterrorism Center Director Joe Kent in connection with alleged leaks of classified information, multiple sources with direct knowledge of the matter tell CBS News.
Illinois' Democratic primary elections on Tuesday received a lot of attention, and not always for the candidates on the ballot. The primary for the open seat left by retiring Sen. Dick Durbin, had served as a test for Illinois Gov. JB Pritzker's political clout ahead of a potential 2028 presidential run.