The average interest rate on a 30-year mortgage, the most common mortgage term, rose by 0.09 percentage point to 6.65 percent during the week ending Friday, May 22, according to the Mortgage Bankers Association.
The average interest rate is calculated based on data from lenders that account for 75 percent of lending.
Since the United States and Israel began the war against Iran on February 28, 30-year mortgage rates have risen by just over 0.50 percentage point.
Higher market interest rates due to inflation concerns are driving the increase.
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