https://www.live-feeds.com/feed/mortgage-rates-approach-3-year-high-as-new-applications-plungeContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/mortgage-rates-approach-3-year-high-as-new-applications-plungehttps://www.live-feeds.com/feed/mortgage-rates-approach-3-year-high-as-new-applications-plunge#u102437Mon, 05 Oct 2026 11:36:43 +0000Mortgage rates are climbing toward a three-year high, crossing 7% on the 30-year fixed loan and hitting highs not seen since 2023. This surge is driven by rising Treasury and bond yields, causing the housing market to freeze as showings halt and affordability deteriorates. Mortgage demand dropped for the seventh straight week. Stock markets have fallen for two consecutive days due to oil prices and foreign fund outflows, while some buyers turn to riskier loans to handle the mounting costs.Why it mattersThe sharp increase in borrowing costs stems from rising bond yields, putting severe pressure