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

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.

Geopolitical tensions are rippling through America’s housing market, adding to the financial strain on homebuyers.