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- Interest and Iran
Interest and Iran
How geopolitical tensions impact interest rates
#128
WELCOME
As tax season ramps up, procrastination can get expensive. Just ask Kevin Mullen.
The Minnesota agent, who ranked among the state’s top 100 producers and closed over $20 million a year in sales, now faces felony charges and potential jail time after allegedly failing to file or pay income taxes for over 10 years. Authorities say more than $400,000 in unpaid taxes surfaced in a recent audit—proof that with great real estate success comes great tax-time responsibilities.
How do luxury coastal properties combine the old and the new, earth tones and bold colors, or smooth and natural textures? Interior Designer Paige Wassel will teach you—using some of the Algarve region’s most exciting new properties as examples. Tap for a quick masterclass in leveraging light, natural materials, and interesting architecture to your design advantage, so you can bring out the best features in any property you stage or live in.
TRACK THE MARKET: Iran and interest rates
Mortgage rates fell below 6% for much of last week, a level many buyers and agents have been watching closely, before jumping higher over the weekend after U.S. and Israeli strikes involving Iran unsettled global markets. As geopolitical risk increased, bond markets reacted almost immediately, pushing the 10-year Treasury yield higher and mortgage rates up with it. It’s a good reminder of how mortgage rates don’t just take into account the current housing market, they also react quickly to global events, inflation expectations, and investor sentiment. And with key economic data out today and a Fed meeting next week, the recent volatility may not be over.
Mortgage News Daily reported the average 30-year fixed rate rose 13 basis points Monday to 6.12%, after sitting below 6% for much of the prior week. Rates were around 6.15% shortly after the spike.
Even with the increase, rates are still 62 basis points lower than a year ago, and Bank of America said mortgage applications and funding volumes are up more than 20% year over year, showing buyers had already started responding to lower rates.
More potential rate drivers are coming: the BLS jobs report is being released today, and the Federal Reserve meets next week, though markets currently expect no change to the federal funds rate.
DIVE IN
The Friday Five
📖 Tale of two markets. Why it’s a buyers market—but not everywhere.
👀 Looks expensive. Kanye West’s Belgium loft took this expensive trend wall-to-wall (and to ceiling).
👀 Post Malone’s childhood home. See his modest former home that just hit the market for under $550K.
💡Trillion-dollar trio. Rocket, Compass, and Redfin just joined forces. Here’s what that means for agents and buyers.
💡Price paradox. The surprising reason why when interest rates dip, affordability does too.
WHAT’S NEW FROM ESTATE MEDIA
The Algarve’s architectural flex
If there’s one thing Portugal’s Algarve region is known for—besides world-renowned golf courses, Michelin star-level restaurants, and breathtaking coastal cliff views—it’s innovative and modern architecture. And that’s exactly what Josh Flagg set out to explore in the latest My Pleasure, Portugal.
If you’re a fan of clean lines, quiet tones, spacious spaces, and views that look like living photographs, catch this full tour of one of Portugal’s most beautiful and intentionally designed properties, nestled along the rocky coast.
FEATURED LUXURY LISTING
TIPS & TAKEAWAYS
Quote of the week
Every little thing you do adds up. Every follow-up phone call, every after-closing check in, every piece of good advice, and every networking conversation matters—and comes together to build your business.
As Glennda Baker put it,
“Reputation isn’t built on a viral moment. Instead, it’s built in a thousand consistent actions.”
HANGS & HAPPENINGS
The Gathering by HousingWire | Austin, TX | April 27 - 30, 2026
This event for mortgage professionals, brokerage leaders, and investors connects you with some of the most powerful and prominent executives in the housing industry. Hear from experts on housing policy, real estate solutions, affordability opportunities, investments, and more.
Inman Luxury Connect | San Diego, CA | July 27 - 28, 2026
The industry’s premier event for elite agents and brokers in the luxury space hosts immersive discussions, interactive workshops, top-tier networking events, and a roster of speakers including James Harris, Jason Oppenheim, and Jade Mills.
Before we go…
ESTATE RECOMMENDED RESOURCES
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