Mortgage rates have been creeping higher since Monday, but it hasn't been a dramatic shift. For now, rates appear to be heading back to roughly where they were last week, before a flurry of anxiety over AI profits prompted investors to pile into the bond market. Making matters worse, rates aren't rising because concerns about tech are going away — the potential for renewed hostilities in Iran looks to be driving the latest uptick.

The average interest rate on a 30-year, fixed-rate mortgage rose to 7.28% APR, according to rates provided to NerdWallet by Zillow. This is four basis points higher than yesterday but seven basis points lower than a week ago. (See our chart below for more specifics.) A basis point is one one-hundredth of a percentage point.

If everything you just read makes sense, you're good to go.…