After basically flatlining for the last few weeks, mortgage rates moved decidedly higher Wednesday after President Trump said he would maintain the U.S. naval blockade against Iran until they agreed to a nuclear deal. That sent oil prices higher, and bond yields followed. As a result, the average rate on the 30-year fixed mortgage, which began climbing Tuesday, rose seven more basis points to 6.45% according to Mortgage News Daily. That is the highest rate since April 3. Mortgage rates loosely