09/02/2026
Did you know that rising tensions in the Middle East can affect the Chicago housing market?
When oil prices rise, inflation concerns can increase. That can push U.S. Treasury yields higher, which can put upward pressure on mortgage rates.
By the end of August, the 10-year U.S. Treasury yield had risen to around 4.75%, while the average 30-year fixed mortgage rate reached 6.66%.
At the same time, new listings increased to their highest level in about four months, while pending sales fell to their lowest level in roughly six months.
In simple terms:
More homes are coming onto the market, but fewer buyers are moving forward.
For buyers, this can create more opportunities to negotiate on price, closing costs, repairs, or mortgage rate buydowns.
For sellers, it makes accurate pricing more important than ever.
Waiting for mortgage rates to fall isn't always the best strategy. Lower rates could bring more buyers back into the market, increasing competition and potentially pushing prices higher.
The goal isn't to predict the perfect time to buy or sell.
It's to understand the current market and find the strategy that works best for your situation.
If you're planning to buy or sell in Chicago or the surrounding suburbs, contact me. We'll look at the actual inventory, recent sales, and competition in your area to determine the best strategy for you.
Sang Han | Chicago Bokdeokbang
As military tensions in the Middle East rise again, oil prices and U.S. Treasury yields have also moved higher.At first glance, a war happening overseas may seem completely unrelated to the housing market in Chicago. But in reality, global events like these can have a fairly direct impact on both bu...
