Mortgage rates surge to nearly four-week high as Iran headlines impact markets

An aerial view of homes in a neighborhood on Aug. 27, 2025 in San Francisco, California. Justin Sullivan | Getty Images After basically flatlining for the last few weeks, mortgage rates moved decidedly higher Wednesday after President Trump said he would maintain the U.S. naval blockade against Iran until they agreed to a nuclear deal. That sent oil prices higher, and bond yields followed. …