Bombs are exploding in #Iran & the #MiddleEast, but the fallout is rattling households & businesses in neighborhoods all over the globe.

In Kansas, home buyers saw 30-yr #MortgageRates edge above 6% this week. In West India, families mourning the death of a loved one discovered that #gas fired #crematories had been temporarily closed.

In Hanoi, Vietnam, gas station owners posted “sold out” signs. In Kenya, tea growers & traders worried their exports to Iran would rot on the dock.

#TrumpsWar

Higher #MortgageRates could widen that gap even further, making it harder for many households; wealthier buyers & investors are more likely to pay in cash.

The geopolitical tensions driving #energy prices higher are also complicating the outlook for #InterestRates. Expectations that the #FederalReserve might begin cutting rates have faded as #markets worry #inflation could stay higher for longer than anticipated.

#WealthDivide #inequity #economy #affordability #CostOfLiving #housing #Trump

But if the recent uptick continues, #MortgageRates will add to a list of concerns that could keep #home buyers on the sidelines, said Hannah Jones, a senior economic research analyst at Realtor.com.

“Spring feels very uncertain,” Jones said. “This definitely feels like we’re back where we were a year ago: #tariff uncertainty, #economic uncertainty, #geopolitical uncertainty. All of this is making the path ahead seem really unclear.”

#economy #affordability #CostOfLiving #Trump

#Home buyers have already been struggling with high #prices, as well as rising #insurance & #property #taxes. #MortgageRates were one source of relief, having fallen from much higher levels in recent years. Even at 6.11, rates are well below their recent peak of 7.8% in October 2023, which was the highest level in decades as the #economy was recovering from the #pandemic. Back then the yield on the 10-year Treasury note was approaching 5%.

#affordability #CostOfLiving #Trump #recession