US mortgage rates climbed to a near three-year high, with the 30-year fixed rate rising to 7.49 percent as applications fell 4.2 percent to their lowest since February 2025. The surge, tied to rising Treasury yields and oil prices amid Iran tensions, deepens cost-of-living worries less than a month before midterm elections.
US mortgage rates hit three-year high before midterms
Source: Al Jazeera