Anonymous1 day ago
The U.S.-Iran conflict that began on February 28, 2026 has disrupted global oil markets through Iran's closure of the Strait of Hormuz, sending Brent crude above $119 per barrel and pushing 30-year fixed mortgage rates from 5.99% to 6.46% in five weeks. The resulting affordability shock has stalled the spring housing market, with purchase applications down 5%, contract cancellations at a record 14% share, and homebuilders like KB Home cutting delivery guidance—while the Federal Reserve holds rates steady, caught between inflation risks and recession fears.