--- title: "US Mortgage Rates Climb to 6.49% as Iran Tensions Weigh on Housing" type: "News" locale: "en" url: "https://longbridge.com/en/news/292326158.md" description: "U.S. 30-year mortgage rates rose to 6.49% amid renewed Iran tensions, which may keep borrowing costs elevated and hinder housing market recovery. This increase reverses last week's decline but remains below last year's peak. Economists warn that high rates continue to suppress home sales and affordability, with Zillow forecasting rates around 6.3% by year-end, offering only modest relief for buyers." datetime: "2026-07-10T13:12:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292326158.md) - [en](https://longbridge.com/en/news/292326158.md) - [zh-HK](https://longbridge.com/zh-HK/news/292326158.md) --- # US Mortgage Rates Climb to 6.49% as Iran Tensions Weigh on Housing U.S. mortgage rates have moved higher again as renewed tensions with Iran raise concerns that oil prices and borrowing costs could remain elevated. Freddie Mac (FMCC) reported that the average rate on a 30-year fixed mortgage increased to 6.49% from 6.43% a week earlier, reversing the previous week's decline, although the rate remained below the 6.72% recorded a year ago. The increase followed President Donald Trump's declaration that the ceasefire with Iran was over, a development that may weaken hopes that easing geopolitical tensions could stabilize financing conditions. Investors may view the renewed escalation as another challenge for the U.S. housing market, which has already faced pressure from persistently high mortgage rates since the conflict began in late February. Joel Berner, a senior economist at Realtor.com, emphasized that elevated mortgage rates remain a major reason buyers have been reluctant to drive a meaningful recovery in 2026 home sales. Berner suggested that the current situation in Iran may keep borrowing costs higher for longer, potentially extending affordability pressures across the property market. Recent housing data also indicated continued weakness, with sales of previously owned U.S. homes declining 2.4% in June, according to the National Association of Realtors. The decline suggests that buyers remain sensitive to financing costs, while renewed uncertainty surrounding oil prices could add further pressure to housing activity and market sentiment. Zillow , which provides mortgage-rate forecasts through Zillow Home Loans, has slightly raised its projection for borrowing costs to approximately 6.3% by the end of this year. That estimate is slightly above the mortgage rates buyers experienced during the fall and winter of 2025, potentially turning last year's affordability support into a headwind. Kara Ng, a senior economist at Zillow Home Loans, characterized the expected movement as a gradual drift rather than a substantial drop. For investors, the updated outlook suggests that mortgage rates may ease only modestly, leaving homebuyers, property transactions and the broader housing market exposed to continued affordability constraints. ### Related Stocks - [Z.US](https://longbridge.com/en/quote/Z.US.md) - [MBB.US](https://longbridge.com/en/quote/MBB.US.md) - [VMBS.US](https://longbridge.com/en/quote/VMBS.US.md) - [SPMB.US](https://longbridge.com/en/quote/SPMB.US.md) - [RWR.US](https://longbridge.com/en/quote/RWR.US.md) - [XLRE.US](https://longbridge.com/en/quote/XLRE.US.md) - [FMCC.US](https://longbridge.com/en/quote/FMCC.US.md) - [ZG.US](https://longbridge.com/en/quote/ZG.US.md) ## Related News & Research - [Trump’s $200 billion bet on lower mortgage rates worked. War in Iran just changed everything.](https://longbridge.com/en/news/293490825.md) - [BREAKINGVIEWS-Home prices crack US builder foundations](https://longbridge.com/en/news/294224783.md) - [US new home sales pick up in June, Census data shows](https://longbridge.com/en/news/293769040.md) - [Stocks Pressured by Renewed US-Iran Hostilities](https://longbridge.com/en/news/294221798.md) - [Oil prices tumble after the US and Iran pause fighting over the weekend](https://longbridge.com/en/news/294218059.md)