Mortgage rates in the United States have climbed to about 6.55%–6.69% for 30-year fixed loans, with 15-year rates near 5.96%, the highest in roughly a year and worsening affordability. Rates are rising worldwide as Treasury yields and geopolitical tensions push financing costs higher, with Iran-related oil-price spikes rekindling inflation fears. Despite higher rates, some data show a modest rebound in mortgage demand as lenders adjust and buyers continue to participate in the market. Home prices remain elevated while monthly payments rise, contributing to a tepid outlook for first-time buyers and ongoing churn in demand. Analysts warn rates may stay elevated into 2026 if inflation persists and the Fed considers policy moves, with pending sales showing continued weakness. Energy-price shocks are shaping housing-finance dynamics globally, underscoring the sensitivity of mortgages to inflation and geopolitical risk.