The average top-tier 30-year fixed mortgage rate rose to 6.68%, matching its second-highest level in more than 10 months and nearing the 6.75% peak reached on May 19.
Resurgent U.S.-Iran tensions drove the move, with Trump’s declaration that the ceasefire was over adding pressure after most of the bond-market damage had already occurred a day earlier.
Mortgage lenders were still catching up to that earlier bond selloff, lifting rates again Wednesday even though bonds themselves did not deteriorate nearly as sharply during the session.
That milder bond reaction may suggest rates are nearing a short-term ceiling, but the outlook still hinges on whether the conflict re-escalates further.