Pierre-Steven Passaha

It was expected to be a strong home buying season.

Average interest rates for a 30-year fixed mortgage dropped below 6% in February, the first time in three and a half years.

But the war against Iran increased the cost of borrowing.

And this week, the mortgage rate is about 6.5%.

Real estate business Zillow says sales in May were below where they were a year ago, nearly 3 percent, and housing recovery is back on pause.

Families choosing to stick with renting are seeing the benefits of an apartment construction boom.

The retail data company Yardi Matrix reports the average advertised rent was virtually flat compared to a year earlier.