Mortgage Rates Reach 2026 High of 6.71%

Mortgage rates reached their highest level in over a year, rising to 6.71% for 30-year fixed loans due to global bond market sell-offs driven by renewed Middle East hostilities and escalating inflation fears. The increase follows recent U.S. airstrikes against Iranian targets, which have pushed oil prices near $100 a barrel and driven bond yields higher. While home prices are declining and more listings have price cuts, mortgage rate stability remains uncertain amid ongoing inflation concerns and Federal Reserve policy debates.

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