✉news BusinessReal Estate first seen 11 h ago, last 31 min ago, peak #2

US mortgage rates top 7% as bond yields surge

Original: Mortgage rates break past 7% as bond yields surge, deepening U.S. housing gridlock

Average US mortgage rates have climbed above 7% after a sharp rise in Treasury bond yields, worsening an already frozen housing market. Higher borrowing costs are pricing out buyers, discouraging homeowners with lower locked-in rates from selling, and deepening the gridlock between sellers, buyers and lenders. Economists warn affordability could deteriorate further if yields keep climbing.

Why now: Rising rates directly affect home affordability and are hitting buyers and sellers at a sensitive time for the housing market.

United StatesFederal ReserveUS housing market

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• Mortgage rates break past 7% as bond yields surge, deepening U.S. housing gridlock · NPR

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