Mortgage rates have risen due to the ongoing conflict in Iran, with the 30-year fixed-rate mortgage rate reaching 6.38 percent, according to Freddie Mac. The 15-year mortgage rate was also up to 5.75 percent. These rates have steadily increased over the past month as the conflict in the Middle East creates economic uncertainty across the world. The Federal Reserve maintained its baseline interest rate at a range of 3.5 percent to 3.25 percent in mid-March under pressure from the ongoing military operations against Iran. Global energy prices have also surged, with Brent crude trading at around $110 per barrel and West Texas Intermediate trading at nearly $97 per barrel. The CEO of BlackRock warned of a global recession if the price of oil reaches $150 per barrel, while the CEO of United Airlines anticipates oil rates remaining over $100 per barrel into 2027.