Average 30-year US mortgage rate rises to highest level in a year at 6.66%

The average 30-year U.S. mortgage rate rose to 6.66%, the highest level in a year, as conflict in Iran and higher oil prices fueled inflation expectations. Higher borrowing costs are limiting homebuyers' purchasing power and contributing to sluggish home sales, with the 10-year Treasury yield rising to 4.66% as a key factor.