Mortgage rates just keep climbing

Live updates

1. 2h ago

   Mortgage rates surpass 7% as bond yields surge

   Mortgage rates have risen above 7%, with the 30-year fixed rate reaching 7.45%. This increase is attributed to rising bond yields, which have climbed to their highest levels in 20 years. The surge in mortgage rates has deepened the gloom for the US housing market, making it more challenging for prospective homebuyers.

   Why it matters

   The rising mortgage rates have significant implications for the housing market, which has been experiencing a slowdown. The increase in rates is likely to reduce demand for homes, making it more difficult for buyers to enter the market. This, in turn, may impact the overall economy. The Federal Reserve's actions and inflation concerns are also influencing bond yields and mortgage rates.

   What is confirmed

   • The average 30-year fixed mortgage rate has risen above 7%.
   • The 30-year fixed mortgage rate reached 7.45%.
   • Rising bond yields are driving up mortgage rates.
   • Mortgage rates have climbed for the fifth straight week.

   Still unconfirmed

   • Mortgage rates are far more likely to go up than down by the end of the year.

   What to watch next

   • The Federal Reserve's next policy decision
   • Changes in bond yields
   • Housing market sales data
   Sources used for this update (22)

   1. The New York Times — Mortgage Rates Hit 7% as Iran War Fallout Crushes a Weak Housing Market
   2. CNN — Mortgage rates top 7%, dealing a further blow to the frozen housing market | CNN Business
   3. CNBC — 30-year fixed mortgage rate jumps sharply Thursday to 7.45%
   4. The Hill — The Memo: Rising bond yields, mortgage rates deepening gloom for Trump’s GOP
   5. CNN — Mortgage rates top 7%, dealing a further blow to the frozen housing market
   6. Deseret News — Mortgage rates just keep climbing
   7. Yahoo Finance — 30-Year Mortgage Rate Hits 7.45%. What Does It Mean for Crypto?
   8. foxbaltimore.com — Housing affordability takes another hit as mortgage rates cross 7%
   9. www.deseret.com — Mortgage rates just keep climbing
   10. InForum — Mortgage rates rise as North Dakota buyers look for options
   11. The New York Times — High Gas and Rising Mortgage Rates Trouble Trump as Midterms Near
   12. NPR — Mortgage rates break past 7% as bond yields surge, deepening U.S. housing gridlock
   confidence 85%