{"id":195310,"date":"2026-04-02T19:46:10","date_gmt":"2026-04-02T19:46:10","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2026\/04\/02\/mortgage-rates-are-surging-foiling-homebuyers-best-laid-plans\/"},"modified":"2026-04-02T19:46:10","modified_gmt":"2026-04-02T19:46:10","slug":"mortgage-rates-are-surging-foiling-homebuyers-best-laid-plans","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2026\/04\/02\/mortgage-rates-are-surging-foiling-homebuyers-best-laid-plans\/","title":{"rendered":"Mortgage rates are surging, foiling homebuyers&#8217; best-laid plans"},"content":{"rendered":"<section >\n<p>Surging mortgage rates are threatening to wash out the spring homebuying season.<\/p>\n<p>The rate on a conventional 30-year home loan rose to 6.46%, its highest level since September 2025, Freddie Mac said Thursday. Borrowing costs have jumped sharply in recent weeks after having dipped\u00a0<span >below 6%<\/span> in late February. The <span >Iran war<\/span> is exerting further upward pressure on rates by stoking inflation concerns and driving up government bond yields, according to economists. Mortgage rates tend to track the 10-year Treasury bond.\u00a0<\/p>\n<p>For aspiring homeowners, the upsurge in borrowing costs is a major headache.<\/p>\n<p>&#8220;Before this war, it was like, it could be a good buyer&#8217;s time now,&#8221; said Rachel Marks, a 41-year-old Brooklyn, New York, resident who recently started searching for a home. &#8220;Now it&#8217;s like, nope, stay away because everything is just going up, up, up.&#8221;<\/p>\n<p>As of Thursday, the 10-year Treasury yield was 4.26%, up from 3.96% just before the U.S. and Israel attacked Iran on February 28.<\/p>\n<p>&#8220;When inflation goes up, investors in bonds \u2014 and that includes mortgage-backed securities \u2014 demand a higher return to compensate them for that increase,&#8221; explained Mike Fratantoni, chief economist at the Mortgage Bankers Association (MBA), a trade group.<\/p>\n<div>\n<div ><script type=\"text\/plain\" ><\/script><noscript><\/noscript><\/div>\n<p><amp-iframe width=\"100\" height=\"100\" layout=\"responsive\" sandbox=\"allow-scripts allow-same-origin\" resizable src=\"https:\/\/www.datawrapper.de\/_\/Ns6bf\/\">  <\/amp-iframe><\/div>\n<p>The direction of monetary policy is also weighing on the housing market, Fratantoni said. With <span >inflation seemingly stuck<\/span> above the Federal Reserve&#8217;s 2% annual target, a growing number of economists and Wall Street analysts now predict that the central bank will refrain from lowering its benchmark rate for all of 2026.<\/p>\n<p>&#8220;Mortgage rates will remain elevated, above 6%, in part because markets are pricing higher expected inflation into long-term rates,&#8221; economists with PNC Financial Services predicted in a report this week.<\/p>\n<h2>$84,000 difference<\/h2>\n<p>Prospective homebuyers are now grappling with the impact of an unexpected jump in mortgage rates.<\/p>\n<p>Devan Post, a 36-year-old corporate controller in Minnesota who&#8217;s in the market for a home offering more space for her family, in February thought she had found a property that ticked all the boxes.\u00a0<\/p>\n<p>A lender initially quoted her a rate of 5.85% for a 30-year fixed-rate mortgage, she told CBS News. But before she and her husband could jump on the offer, the Iran war erupted. The lender&#8217;s latest quote: 6.49%.\u00a0<\/p>\n<p>Post and her husband recently put in an offer on another home. While they&#8217;re one step closer to buying, she said the additional mortgage costs they face are discouraging,<\/p>\n<p>&#8220;You feel like you&#8217;re finally going to be entering the market when things are going your way. Like, rates are finally going down, we can actually afford a nice house,&#8221; she said. &#8220;And then it&#8217;s like, oh, wait, never mind.&#8221;<\/p>\n<p>If the couple locks in at 6.49% and put 20% down, they would pay an extra $265 per month compared with the lower rate offer last month \u2014 that comes to $84,600 over the life of a 30-year loan, according to Realtor.com.<\/p>\n<h2>A weaker spring season?<\/h2>\n<p>Higher mortgage rates coincide with the start of the spring homebuying period, when demand normally starts to pick up. Experts had\u00a0predicted\u00a0a strong season, pointing to a modest increase in inventory, momentum in new construction and lower year-over-year listing prices.\u00a0<\/p>\n<p>The housing market was also eager to turn the page from last spring&#8217;s buying season, when President Trump&#8217;s &#8220;liberation day&#8221; tariffs sparked inflation and recession fears, according to Jake Krimmel, a senior economist at Realtor.com.<\/p>\n<p>&#8220;This was going to be the year that the market rebounded in a noticeable way,&#8221; he told CBS News. &#8220;Conditions were forming for improved affordability.&#8221;<\/p>\n<p>However, higher mortgage rates have muddied the picture, with Oxford Economics noting in a recent report that the Iran war&#8217;s effect on the housing market &#8220;will likely send many buyers and sellers to the sidelines.&#8221;\u00a0<\/p>\n<p>The Mortgage Bankers Association recently downgraded its outlook for home sales because of what it expects to be softer demand.<\/p>\n<p>&#8220;A month ago, our forecast for 2026 was for an 8% increase in home sales compared to 2025. Now we&#8217;re looking for a 5% increase,&#8221; Fratantoni said.<\/p>\n<p>Krimmel said it&#8217;s too soon to tell if higher mortgage rates will chill demand for housing, noting that &#8220;nothing is flashing red yet.&#8221; In some cases, rising mortgage rates could even encourage people to jump on an offer to lock in a better deal before costs rise, he added.<\/p>\n<p>Still, some signs point to a slight slowdown in demand. The MBA&#8217;s seasonally adjusted purchase index, which tracks the volume of mortgage loan applications for new and existing homes, fell 3% on April 1 from a week earlier.<\/p>\n<section >\n<p >\n      Edited by<\/p>\n<p>                                  Alain  Sherter\n                      <\/p>\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<style type=\"text\/css\">\n      .component--type-recirculation {\n      .item:nth-child(7),\n      .card-recirc:nth-child(7) {\n        display: none;\n      }\n    }\n      #inline-recirc-item--id-72016f45-acac-4330-a558-83a75314ee12, #right-rail-recirc-item--id-72016f45-acac-4330-a558-83a75314ee12 {\n      display: none;\n    }<\/p>\n<p>    #inline-recirc-item--id-72016f45-acac-4330-a558-83a75314ee12 ~ .item:nth-child(7) {\n      display: block;\n    }\n  <\/style>\n<section >\n      <!-- tags --><\/p>\n<section >\n<p >In:<\/p>\n<ul>\n<li>Mortgage Rates<\/li>\n<\/ul>\n<\/section>\n<\/section>\n<\/section>\n<p><a href=\"https:\/\/www.cbsnews.com\/news\/mortgage-rates-today-housing-iran-war\/\">Source <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Surging mortgage rates are threatening to wash out the spring homebuying season. The rate on a conventional 30-year home loan rose to 6.46%, its highest level since September 2025, Freddie Mac said Thursday. Borrowing costs have jumped sharply in recent weeks after having dipped\u00a0below 6% in late February. The Iran war is exerting further upward [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[53],"tags":[],"class_list":["post-195310","post","type-post","status-publish","format-standard","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v18.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mortgage rates are surging, foiling homebuyers&#039; best-laid plans - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2026\/04\/02\/mortgage-rates-are-surging-foiling-homebuyers-best-laid-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage rates are surging, foiling homebuyers&#039; best-laid plans\" \/>\n<meta property=\"og:description\" content=\"Surging mortgage rates are threatening to wash out the spring homebuying season. The rate on a conventional 30-year home loan rose to 6.46%, its highest level since September 2025, Freddie Mac said Thursday. Borrowing costs have jumped sharply in recent weeks after having dipped\u00a0below 6% in late February. 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