The average 30-year fixed mortgage rate in the US has climbed to 7.6%, reaching its highest level since 2023 and significantly increasing borrowing costs for homebuyers. This spike coincides with a broad sell-off in US government bonds as investors continue to exit Treasurys.
The 10-year Treasury yield surged to its highest level since 2002 following its largest quarterly increase since 1994. Meanwhile, the 30-year Treasury yield rose to 5.69%, signaling sustained upward pressure on long-term rates across the economy.
US Mortgage Rates Hit 7.6% as Treasury Yields Surge to Multi-Decade Highs
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