US mortgage rates rise to the highest level since August

According to data released by the Mortgage Bankers Association on Wednesday, in the week ending May 22, the contract rate for 30-year mortgages rose by 9 basis points to reach 6.65%. Since the outbreak of the Iran conflict at the end of February, this rate has accumulated an increase of more than 0.5 percentage points. Meanwhile, the association's refinancing index fell by more than 18%, hitting its lowest level in nearly a year. The home purchase application index also declined for the second consecutive week.