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● LIVE Updated 2h ago · 10 sources tracked

US mortgage rates top 7% for first time in 20 months

US mortgage rates have risen above 7%, with the 30-year fixed rate hitting 7.45% on Thursday. This surge represents the highest level in over two years and the first time rates have topped 7% in 20 months. The increase follows a bond rout and rising bond yields, further straining a housing market described as frozen or weak. Market analysts suggest the spike is linked to fallout from the war in Iran.

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  • ✓ US mortgage rates have topped 7% for the first time in 20 months.
  • ✓ The 30-year fixed mortgage rate reached 7.45% on Thursday.
  • ✓ Mortgage rates have reached their highest level in over two years.
🛡️ Source Corroboration: 10 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Mortgage rates climbed to 7.45% following a bond rout and geopolitical tension.

Live updates

  1. US Mortgage Rates Surpass 7% for First Time in 20 Months

    US mortgage rates have risen above 7%, with the 30-year fixed rate hitting 7.45% on Thursday. This surge represents the highest level in over two years and the first time rates have topped 7% in 20 months. The increase follows a bond rout and rising bond yields, further straining a housing market described as frozen or weak. Market analysts suggest the spike is linked to fallout from the war in Iran.

    Why it matters

    High borrowing costs reduce affordability for homebuyers and discourage current homeowners from refinancing or selling. This creates a stagnant market where inventory remains low. The current volatility is tied to broader macroeconomic instability and geopolitical conflict.

    What is confirmed

    • US mortgage rates have topped 7% for the first time in 20 months.
    • The 30-year fixed mortgage rate reached 7.45% on Thursday.
    • Mortgage rates have reached their highest level in over two years.

    Still unconfirmed

    • The surge in mortgage rates is a result of fallout from the war in Iran.
    • A bond rout pushed mortgage rates past the 7% threshold.

    What to watch next

    • Further movement in bond yields
    • Official government data on housing market activity
    • Updates on the conflict in Iran
    Sources used for this update (10)
    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. NPR — Mortgage rates have just surpassed 7% for the first time in well over a year
    4. finance.yahoo.com — Mortgage rates surge to highest level in over two years: Mortgage and refinance interest rates today
    5. CNBC — 30-year fixed mortgage rate jumps sharply Thursday to 7.45%
    6. The Guardian — US mortgage rates top 7% for first time in 20 months
    7. Financial Times — Transcript: Bond rout pushes US mortgage rates past 7%
    8. The Hill — The Memo: Rising bond yields, mortgage rates deepening gloom for Trump’s GOP
    9. barrons.com — How High Can Mortgage Rates Go? How Does 9% Sound to You?
    10. www.briefs.co — Labour revives Help to Buy playbook with "Your First Home" equity loans
    confidence 90%
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