Mortgage rates hit yearly high as Iran conflict escalates 

As the Iran conflict 2.0 escalates, mortgage rates hit yearly highs today at 6.85%, compared to the same day last year when they were 6.78%. This marks the first time in 2026 that rates are higher this year than last. With WTI oil over $90, Brent Crude over $100, and jobless claims hitting a low last seen in 1969, the 10-year yield hit 4.71% this morning. The 2-year yield hit 4.37% and the 3-month yield 3.88% — all yearly highs. In addition, the Fed meets next week and with the hawks in control, there is a 36% chance of a rate hike. What should we expect next? 30-year mortgage rates and oil prices I have talked about the risk of this Iran conflict escalating and how my forecast of the 10-year yield at 4.60% and mortgage rates peaking at 6.75% would be in danger if the conflict continued. Well, it’s escalating in a bigger fashion than even I thought would happen, as we are attacking Iran during market hours, which means a market impact, as you can see with the price of oil. Since the conflict reignited, I’ve warned that rates could rise higher than my peak forecast if the Iran conflict gets even worse. Today, President Trump said he is weighing a “massive attack,” which is driving r...