Freddie Mac's survey put the average 30-year fixed mortgage rate above 7% on September 11, the first time in 15 months, driven by a bond sell-off from the Iran war and inflation. The rate climbed to 7.63%, the highest of the run-up, before easing to 7.52% at the end of last week, nearly a full point above July. Refinances are down 56% year over year, pending home sales have tumbled to near 12-year lows, and applications have fallen three weeks straight. Houston's spring and summer selling season fell short of expectations, and in most top 50 metros starter home prices are rising slower or falling faster than luxury prices.