The average long-term U.S. mortgage rate climbed this week to its highest level in nearly a year, driving up borrowing costs for prospective homebuyers.

The average long-term U.S. mortgage rate climbed this week to its highest level in nearly a year, driving up borrowing costs for prospective homebuyers.

Rates have been on an upward trend this year, largely due to the war with Iran, which has sharply driven up crude oil prices and fueled expectations of hotter inflation