U.S. 30-Year Mortgage Rate Reaches 14-Month High as Bond Yields Rise
Source Summary
The benchmark U.S. 30-year fixed mortgage rate reached 6.76 percent this week, up from 6.71 percent the previous week, according to Freddie Mac. This marks the highest level for the 30-year rate since the week ending June 26, driven by rising global bond yields.
Why it matters
Rising mortgage rates directly increase borrowing costs for homebuyers and refinancing households, affecting housing affordability and demand.
