Mortgage rates jump to 7.17%, signaling a fresh housing-market slowdown
TL;DR
The average 30-year fixed-rate mortgage climbed to 7.17% on Monday, the highest since January 2025, as the 10-year Treasury yield crossed 5%. The uptick underscores a cooling housing market and affordability pressure, with analysts like Bright MLS’s Lisa Sturtevant warning that rates near 7% will freeze out first-time and moderate-income buyers, leaving buyers and sellers waiting for more favorable conditions.
Topics:businesseconomy#10-year-treasury-yield#30-year-mortgage#economy#first-time-buyers#housing-market#mortgage-rates
- 30-year mortgage rate jumps to 7.17% — a nearly 2-year high — in the latest blow to the housing market MarketWatch
- Mortgage Rates Held Fairly Steady Until Late in The Day Mortgage News Daily
- Mortgage rates climb: Average rate on a 30-year home loan hits the highest level in over 14 months chicagotribune.com
- Housing market faces headwinds as mortgage rates move above 7% HousingWire
- What Wednesday’s Fed Decision Could Mean For Mortgage Rates National Mortgage Professional
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