By Samantha Delouya, CNN(CNN) — Five months into the war in Iran, rising oil prices and stubborn inflation are driving mortgage rates to the highest level in a year. That’s up from 6.58% last week, marking the biggest one-week jump in mortgage rates in 10 weeks. Just a few months ago, mortgage rates dipped below 6% for the first time in years, fueling hopes that lower borrowing costs would revive the sluggish housing market. The yield recently climbed to its highest level since January 2025, reflecting expectations that interest rates will remain higher for longer. There are already signs that higher mortgage rates are slowing the engine of the housing market.