U.S. mortgage rates have reached a 6-month high, dampening hopes for an affordability boost in the housing market. The increase in rates has been driven by geopolitical instability following the start of the Iran war in late February. However, bond buying by Freddie Mac and Fannie Mae is acting as a buffer, preventing mortgage rates from climbing even higher. Additionally, rate hike odds have surpassed 50% for the first time this cycle.
