The Great Housing Divide: Elevated Rates Split Global Property Markets

The world's housing markets are fracturing along a sharp new fault line: those who can pay cash versus those who must borrow. In the U.S., the 30-year fixed mortgage rate climbed to 6.81% — its highest level in over a year — as the Iran conflict sent the 10-year Treasury yield to a 2026 peak of 4.74%. Mortgage purchase applications dropped 3.6% in a single week, while the refinancing index fell to its lowest since mid-2025. Meanwhile, 25% of home sales are now...