The average 30-year fixed mortgage rates has risen to 6.22% this week, according to Freddie Mac. This is a 0.11% incline from last week and the third consecutive week of increases. Three weeks ago, the 30-year rate had dropped below 6% to 5.98%.

The 15-year fixed rate is also up for a second week in a row. It now sits at 5.54%, which is a 0.04% increase since last week.

A significant chunk of my mortgage-reporting career has focused on mortgage rates, so I can’t say I’m surprised that rates have climbed again this week. Numerous economic factors impact mortgage rates, but one seems to be king in the current environment: the conflict in the Middle East.

Iran war continues to affect mortgage rates

Geopolitical unrest affects the U.S. economy in various way — one being that it pushes up mortgage rates.

“Right now, the story in the markets is still being driven almost entirely by what’s happening in the Middle East and the impact it’s having through elevated and volatile oil prices,” said Jeff DerGurahian, chief investment officer and head economist for loanDepot.

Related: How Fed meeting impacts mortgage rates, housing market

America and Israel first attacked Iran on Feb. 28. The longer the Middle East conflict drags on, the more significant its effect on mortgage interest rates could be. Considering Israel claimed to have killed Iran’s intelligence minister, Esmail Khatib, on Wednesday, March 18, as CNBC reported, it doesn’t look like the turmoil is winding down.

High oil prices typically lead to high mortgage rates. Prices for Brent crude, the main benchmark for oil prices internationally, have skyrocketed since Feb. 28. Brent crude closed at $72.50 on the day before Israel and America attacked Iran, and today, it opened at $103.66, per Business Insider.

Consider adjustable-rate mortgages instead

Regardless of what mortgage rates are doing, it’s always a good idea to shop for different types of home loans with a few mortgage lenders to compare your options. And as rates rise during the Middle East conflict, you may want to ask lenders about getting an adjustable-rate mortgage (often called an ARM) instead of a fixed-rate mortgage.

With a FRM, your interest rate is locked in for your entire term length, unless you refinance into a new rate. An ARM keeps your rate the same for a predetermined amount of time, then fluctuates at regular intervals.

For example, a 5/1 ARM would lock in your interest rate for five years, then it would increase or decrease every one year. With a 7/6 ARM, your rate would be stagnant for seven years, then change every six months. Lenders also typically offer lower mortgage rates during ARMs’ introductory years than they do for FRMs.

On March 19, I compared mortgage rates among lenders for a ZIP code in Sacramento, Calif., which is the top metro area where Americans are moving, according to Redfin. The results supported the idea that ARM rates are lower right now.

At Better Mortgage, the advertised 30-year fixed mortgage rate was 5.75%, while 7/6 and 5/6 ARMs charged 5.5%. Chase Home Lending’s rate on a 30-year fixed-rate jumbo loan was 5.875%, and its rate on a 7/6 jumbo ARM was 5.490%.

(These advertised rates assume the homebuyer will pay for discount points, which lowers the rate but costs money on closing day.)

More on mortgages and mortgage rates:

• How Fed meeting impacts mortgage rates, housing market
• Redfin reveals why now is the right time to refinance a mortgage
• Fannie Mae predicts shifts in housing market, mortgage rates

ARMs are worth considering if you think mortgage rates could decrease later — but there’s always the risk that market rates could actually be higher when your introductory-rate period ends, and your monthly mortgage payment would go up. So, ARMs are a particularly worthwhile option for those who plan to move before their intro-rate period ends. This way, you don’t risk taking on a higher rate later.

Adjustable rates do come with some risk, but they aren’t as volatile as 20 years ago.

“It’s also worth noting that today’s ARMs are different from the pre-2008 ARMs you may remember — they’re more tightly regulated and include adjustment caps, which provide you with clearer guardrails around how much your rate, and payment, can increase over time,” said loanDepot branch manager Baret Kechian.

Long-term fixed mortgage rates are still down

Three consecutive weeks of rate increases may feel dismal, but I have good news for homebuyers: Long-term mortgage fixed rates have actually decreased. So, you could still be in a relatively good spot to buy a house or refinance into a lower rate.

• Year-over-year mortgage rates have decreased. The 30-year fixed rate is 0.45% lower than this week last year, and the 15-year rate is down 0.29%.
• Mortgage rates are also below their 52-week averages. The average 30-year rate is down 0.21% from its 52-week average, and the 15-year rate is 0.12% lower.
• Today’s mortgage rates are actually lower than Freddie Mac’s historical average. Since Freddie Mac started tracking 30-year fixed mortgage rates in 1971, the average is 7.69%. The current rate is 1.47% lower than the historical average. Source: Freddie Mac

Related: Fannie Mae predicts shifts in mortgage rates, housing market