The Iran war is raising your mortgage rate

Inventory is finally rising, but war-driven increases in mortgage rates are making it harder for buyers to take advantage.

Mortgage rates are rising as inventory increases. (Photo by Seksan Mongkhonkhamsao)

Housing markets were rocked this week by a jarring spike in the cost of borrowing. According to Freddie Mac, as of March 31, the average rate for a 30-year fixed mortgage sat above 6.5 percent — the highest rate since August.

The culprit is soaring oil prices (themselves d…