Summary<\/p>\n
Mortgage rates edged lower this week after tensions with Iran eased, offering a brief reprieve for home shoppers.
\n Home buyers appear to be accepting mortgage rates above 6% as the new normal, according to industry analysts.
\n The Federal Reserve signaled it could raise interest rates later this year in response to inflation tied to the conflict in the Middle East.<\/p>\n
\n AI-generated summary was reviewed by a CNN editor.<\/p>\n
\n Americans shopping for a home caught a break this week when mortgage rates edged lower.\n <\/p>\n
\n The average 30-year fixed mortgage rate fell to 6.47% this week, down from 6.52% last week, which was near the year\u2019s high, according to data released Thursday by Freddie Mac.\n <\/p>\n
\n But the reprieve may not last. On Wednesday, the Federal Reserve, now led by President Donald Trump appointee Kevin Warsh, signaled it could consider raising interest rates<\/a> later this year in response to the latest inflation spike tied to the US-Israeli war with Iran.\n <\/p>\n \n Last week, two separate reports from the Bureau of Labor Statistics showed that annual inflation rose in May to its highest level<\/a> in three years. That followed stronger-than-expected employment data<\/a>.\n <\/p>\n \n The 10-year Treasury yield, a key driver of mortgage rates, climbed higher after the reports raised concern that inflation may be more stubborn than investors had hoped for. Bond yields rise when prices fall.\n <\/p>\n