Pars Today – As the consequences of the U.S. war against Iran continue to affect the global economy, mortgage rates in the United States and several European countries have risen.
According to Pars Today, citing Mehr News Agency, mortgage rates in the United States and major European economies have risen again in recent weeks. The U.S. war against Iran has affected housing markets, increasing the cost of purchasing a home.
According to the report, interest rates on 30-year mortgages in the United States—the most common type of home loan—are hovering near their highest level in more than a year. The increase reflects concerns in financial markets and indicates that policymakers in the world’s largest economy are facing greater difficulties in containing inflation stemming from the war against Iran.
In the United Kingdom, the average five-year fixed mortgage rate rose to 5.66% in July, marking its first monthly increase since April. Mortgage rates had not reached this level since late 2023.
Mortgage rates have also increased in parts of Europe. The European Central Bank raised its key interest rate to 2.25% in June in response to the conflict in West Asia.
In Germany, the benchmark rate for 10-year fixed-rate mortgages, a common type of home loan, rose from 3.3% at the beginning of July to 3.7% earlier this week.
Meanwhile, the average interest rate on 10-year fixed-rate mortgages in France increased from 3.02% in June to 3.15% in July.