Mortgage rates climb to 6.22%, highest in three months, shaking US housing sentiment. Rates were below 6% just weeks earlier, boosting buyer optimism. Iran war-driven inflation fears pushed oil prices higher, lifting Treasury yields sharply. The 10-year yield jumped near 4.28%, driving borrowing costs upward. Mortgage applications dropped nearly 10%, signaling cooling demand. The Federal Reserve remains cautious as inflation stays above target. Higher rates now threaten spring homebuying momentum. Here’s what this sudden rate surge means next.