Housing investors face worst market in three years as mortgage rates surge

Housing investors report a severe market downturn as mortgage rates climb to their highest level in over a year, driven up sharply by the conflict with Iran following a brief February low.

• Housing investors cite worst market conditions in at least three years
• Mortgage rates spiked at the start of the war with Iran after hitting a recent low in late February
• Current mortgage rates are at their highest level in over a year