Mortgage rates hit 7% amid Iran war fallout
The gist
The average 30-year fixed mortgage rose to 7.03% for the week ending Sept. 24.
It's the first time above 7% in two years, squeezing a weak housing market.
How it unfolded
- Jan 2025Mortgage rates last passed 7% before this week.
- Feb 28, 2026The United States and Israel launched attacks on Iran; mortgage rates began steadily rising again afterward.
- Late Feb 2026Mortgage rates fell below 6%.