'High oil prices are not good for mortgage rates,' economist says. What homebuyers should know

Business

Potential homebuyers who've been looking forward to the spring selling season may be watching with trepidation as interest rates on mortgages tick higher. As of Thursday, the average rate for a 30-year fixed-rate mortgage with a conforming loan balance — that is, $832,750 or less — was 6.35%, according to Mortgage News Daily . About two weeks earlier, ahead of the U.S. and Israel launching military strikes against Iran, it was 5.99%. "High oil prices are not good for mortgage rates," said

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