business
impactful
update
Mortgage rates surge as inflation concerns rise
Jun 12, 2026, 2:00 AM10
(Update: Jun 12, 2026, 2:00 AM)
business
impactful
update
Mortgage rates surge as inflation concerns rise
- The average rate on a 30-year fixed mortgage increased to 6.52%, while the 15-year fixed-rate mortgage rose to 5.84%.
- The rise in mortgage rates is linked to inflation and the ongoing conflict between the U.S. and Iran.
- Higher mortgage rates are affecting home sales and purchasing power, but a recent increase in mortgage applications offers hope for the housing market.
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