During the last week of February, before the US-Israeli attack on Iran, the average 30-year mortgage rate was 5.98%. Recent volatility in mortgage rates appears to be giving buyers and homeowners pause. The jump in mortgage rates has made borrowing money for a home notably more expensive. Mortgage rates tend to track the 10-year US Treasury yield, which pared gains after hitting its highest level since July on Friday. Mortgage rates don’t directly follow the Fed’s policy rate, but the central bank can influence the 10-year Treasury yield.

Source: CNN April 02, 2026 16:24 UTC