Mortgage rates surge to highest level since 2023 as bond yields spike — Live Feedhttps://www.live-feeds.com/feed/mortgage-rates-surge-to-highest-level-since-2023-as-bond-yields-spikeContinuously updated, source-cited coverage. Mortgage rates hit 7.28% as U.S. Treasury yields reach 2002 peakhttps://www.live-feeds.com/feed/mortgage-rates-surge-to-highest-level-since-2023-as-bond-yields-spikehttps://www.live-feeds.com/feed/mortgage-rates-surge-to-highest-level-since-2023-as-bond-yields-spike#u100957Mon, 05 Oct 2026 02:16:31 +0000The average 30-year fixed mortgage rate rose to 7.28% this week, up from 7.03%, marking the highest level since 2023. This surge follows a global bond rout that pushed the 10-year Treasury yield to its highest point since 2002. The spike has resulted in the largest weekly gain for mortgage rates in four years and a plunge in new loan applications. While some homebuyers are turning to riskier loans, the broader market is seeing a reversal in housing affordability relief.Why it mattersMortgage rates are increasingly driven by the bond market rather than Federal Reserve policy. Sustained high yie