Mortgage Rates Climb 60 Basis Points Amid US-Iran Conflict

The average 30-year mortgage rate jumped 60 basis points (0.60 percentage points) since the US-Iran conflict began, hitting 6.55% — a 2026 high — for the week ending July 17, per Trading Economics and MarketWatch. Normally, geopolitical crises drive investors into safe Treasuries, pushing yields down. This time, inflation and supply worries are winning out, lifting the 10-year Treasury yield to 4.633% and pulling mortgages up with it.