30-Year Mortgage Rate Jumps 11 Basis Points to 7.37% as 10-Year Yield Tops 5.1%
Updated
Updated · Yahoo Finance · Sep 24
30-Year Mortgage Rate Jumps 11 Basis Points to 7.37% as 10-Year Yield Tops 5.1%
1 articles · Updated · Yahoo Finance · Sep 24
Summary
Mortgage News Daily put the average 30-year mortgage at 7.37% on Thursday, up 11 basis points from a day earlier and the highest level since May 2024.
The jump tracked a deepening bond selloff: the 10-year Treasury yield hit a 19-year high above 5.1% on Wednesday and rose again to about 5.14% Thursday amid worries over oil, inflation and further Fed hikes.
Zillow said the Treasury-market turmoil is disrupting late-season homebuying plans as buyers and sellers head toward the holiday slowdown.
Other gauges show the same pressure, though with some lag: Freddie Mac's weekly average was 7.03% through Wednesday, while the Mortgage Bankers Association last week put the average at 7.12%, also the highest since May 2024.