Mortgage Rates Spike to New 15-Month High of 6.76% as Bond Market Implodes

20 hours ago 2

Mortgage rates climbed to a 15-month high this week, moving in tandem with surging Treasury yields driven upward by spiking inflation expectations.The average rate on 30-year fixed home loans jumped to 6.76% for the week ending Sept. 10, up 5 basis points from 6.71% the previous week and the highest since late June 2025, according to Freddie Mac. For perspective, rates averaged 6.35% one year ago."The 30-year fixed-rate mortgage averaged 6.76% this week," says Sam Khater, Freddie Mac's chief economist. "Aspiring buyers should remember shopping around for the best mortgage rate and getting multiple quotes can potentially save them thousands."The 10-year Treasury yields, which mortgage rates closely track, topped 4.9% on Thursday, marking the highest level since November 2023. This was in response to oil prices exceeding $100 a barrel, driven by the U.S.-Iran conflict unfolding with no resolution in sight. "Each round of renewed tensions has reinforced the same dynamic that has driven rates higher since late February: oil prices rise, inflation fears follow, and bond markets reprice accordingly," says Realtor.com® senior economist Anthony Smith. August's jobs report came in above con...

Read Entire Article