FRESNO, Calif. (KSEE/KGPE) – The war in Iran continues to impact us at home. 

The DOW Jones Industrial Complex, S&P 500, and the NASDAQ all fell as oil prices rose. 

“The price of oil touches everything,” Ford Financial Group Financial Advisor Brian Ullmann said. 

Ullmann said he’s been tracking the markets closely since the conflict broke out. 

“The market’s initial reaction on day one was a bit muted, which was kind of a surprise. But I think as the gravity of the situation finally settled on investors, markets started to slip,” Ullman said. 

Ullmann said concerns about the market are warranted, but it’s not a reason to rearrange your entire portfolio. 

“You’re an investor, you’re not a trader. And so this is going to be one small blip in what are many, you know, volatile periods of your investing life,” he added. 

But the housing market is also taking a hit. 

While stocks are down, mortgage rates are up. 

“Everybody’s impacted from the borrower to the lender to the real estate agent. It affects the entire industry,” Mortgage Broker Al Gonzalez said. 

Gonzalez said as the war de-escalates, he expects rates to steadily fall. 

“Most of our clients are locked right now, new ones that are coming in or that we quoted and haven’t went into escrow, those are the ones that have a lot of questions right now, or they’ve maybe just kind of put their foot on the brake a little bit,” Gonzalez said.