MASON, Mich — The war in Iran has changed the housing market once again, sending mortgage rates back up just as they looked ready to move down.
WATCH BELOW: More homes hit the spring market while mortgage rates increase
The unpredictability in the housing market is ultimately due to the conflict with Iran. As of Wednesday, White House Press Secretary Karoline Leavitt said in a press briefing that the administration is in talks to end the conflict.
"From the outset, President Trump and the Department of War estimated that it would take approximately four to six weeks to achieve this critical mission," Leavitt said.
Leavitt said current talks are productive and ongoing.
"Talks continue. They are productive as the president said on Monday and they continue to be," Leavitt said.
In Mid-Michigan, spring has brought more houses to the market, benefiting both buyers and sellers.
"Inventory has increased," Realtor Amy Kruizenga said.
"Buyers have been looking for a really long time," Kruizenga said.
However, the uncertainty makes it hard to predict where interest rates may swing to next.
"They were and then everything in the economy and the world lately, has definitely sent the interest rates back up," Kruizenga said.
"We are back up in the six’s, so a lot of people are sitting, waiting. Waiting to see what's going to happen if they’re going to come down. We don’t know what’s going to happen yet," Kruizenga said.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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