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August 31, 2026
Mortgage Rates Hit Highest Level Since June 2025 Amid Rising Oil Prices
- The average rate for a 30-year fixed mortgage rose to 6.87%, up 12 basis points since Thursday.
- Higher mortgage rates increase monthly payments, now costing $2,363 for a $450,000 home, $207 more than in February.
- The rise in rates is attributed to inflation expectations and elevated bond yields, influenced by the Iran war.
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4 Sources
- TSX futures edge higher as US-Iran tensions lift oilAug 31, 2026 at 10:47 AM · Reuters
- Mortgage rates surge to the highest since June 2025 as new Middle East attacks push oil prices upAug 31, 2026 at 5:56 PM · CNBC
- Iran war could keep inflation high, ECB policymaker Rehn warns, FT reportsSep 1, 2026 at 4:25 AM · Reuters
- Oil prices surge and stocks slide as the Middle East conflict simmersSep 1, 2026 at 6:41 AM · AP