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Considering a home purchase or a refinance of your current property? Here are the mortgage interest rates to know.
Realtor.com on MSN
Mortgage interest rates today: Rates surge to 6.22% as Iran war fuels inflation fears
The average rate on 30-year fixed home loans climbed to 6.22% for the week ending Mar. 19, as the Iran conflict drove oil prices ever higher
Explore current mortgage rates and what they mean for home buyers
Will recent declines in the mortgage interest rate climate continue this March? Here's what experts are expecting.
The average interest rate on a 30-year, fixed-rate mortgage rose to 6.09% APR, according to rates provided to NerdWallet by Zillow. This is two basis points higher than yesterday but one basis point lower than a week ago. (See our chart below for more specifics.) A basis point is one one-hundredth of a percentage point.
The conflict in Iran could push inflation as high as 3.5% in July, the Bank of England has said. That would be well above the central bank’s 2% target for the rate - which measures how fast prices are rising.
Mortgage rates shot higher last week, as the war with Iran stoked fears over inflation. That caused a major drop in refinance demand, but buyer demand improved.
Hundreds of mortgage deals pulled from market amid threat of triple interest rate rise - Conflict in the Middle East has scuppered hopes of cuts to the base rate