An increase in mortgage rates on both sides of the Atlantic Ocean will likely dampen the Spring moving market.
In the United States, the 30-year fixed mortgage rate is 6.25% as of April 1, 2026, up roughly half a point from sub-6% levels in February. NerdWallet’s April outlook warns that unless the situation in Iran improves, mortgage rates are likely to keep rising. Property website Redfin predicts existing home sales will end 2026 up only 3% from 2025, at an annualized rate of 4.2 million.
In the United Kingdom, house prices increased at the fastest rate in almost 18 months in March, according to mortgage lender Nationwide. The country’s largest Building Society warned that the US-Israel war on Iran had “clouded the outlook”, with financial markets expecting the Bank of England’s monetary policy committee to raise the base interest rate three times over the next 12 months from 3.75% compared to expectations of two rate cuts this year.
Sources: CBS News, NerdWallet, Redfin, The Guardian