# Mortgage rates hit 11-month high as oil prices rise Rising oil prices drive mortgage rates to their highest level in nearly a year - **Source:** [Yahoo Finance](https://brifing.si/source/7f1dcdb9-78c9-4a6d-ac05-c0d4d417b569) - **Published:** 2026-07-22 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/1f770baa-9681-4a3e-bc8c-f4cf86df3e46 ## Rise in mortgage rates Mortgage rates have reached their highest level in the last 11 months. This increase significantly raises financing costs for homebuyers. Global inflation pressures and rising oil prices have been key drivers behind the rate hike. ## Impact of oil prices Rising oil prices are pushing up energy costs, fueling overall inflation. This situation is prompting central banks to raise interest rates. Mortgage rates are directly affected by these developments. ## Effects on homebuyers Higher mortgage rates mean increased monthly payments for homebuyers. This makes budget planning more challenging, especially for first-time buyers. Experts warn that rates could climb even further. ## Global market conditions Inflation concerns persist in global markets. Rising oil prices are destabilizing economic balances in energy-dependent countries. This is contributing to the upward trend in mortgage rates. ## Financing costs The rise in mortgage rates is significantly increasing financing costs. This could lead to a drop in demand in the housing market. In the long term, it may slow down the growth of the real estate sector. ## Future outlook Experts suggest that mortgage rates could climb even higher if oil prices continue to rise. This poses significant risks for homebuyers and the real estate sector. Markets are closely watching central banks' next moves. ## Sources covering this story - https://finance.yahoo.com/real-estate/articles/mortgage-rates-hit-11-month-200000535.html — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._