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07.10.26 - 19:06
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From 3-Year Lows To 3-Year Highs In Nine Months: Mortgage Rates Surge To 7.49% As Bond Rout Hits Main Street (ZeroHedge)
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From 3-Year Lows To 3-Year Highs In Nine Months: Mortgage Rates Surge To 7.49% As Bond Rout Hits Main Street
Last December, we wrote that mortgage rates had dipped to 3-year lows. Nine months, one Middle East war and one global bond rout later, they are at 3-year highs.
According to the latest weekly data from the Mortgage Bankers Association, the average 30-year fixed-rate mortgage jumped another 19bps to 7.49% in the week ended October 2, the highest since November 2023, and up from 7.30% the week before, which itself was a fresh 3-year high.
The culprit is not exactly a mystery. Mortgage rates track the 10Y Treasury, and the 10Y just had its biggest quarterly jump since 1994, hitting 5.34% last week, the highest since 2002. And with the long end leading the latest leg of the selloff, this morning the 30Y climbed to 5.70%, also the highest since 2002, while the 10Y was trading around 5.32%.
Below we look at why the bond rout has finally landed on Main Street, what it is doing to housing (sp...
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07.10.26 - 18:31
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10- and 30-year bond yields trading at 24-year highs (The Hill)
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The 10- and 30-year U.S. Treasury bond yields hit 24-year highs during Wednesday morning trading, as the market sell-off persists. The 10-year note topped 5.36 percent earlier in the day, the highest mark since April 2002. That month, the 10-year bond yield reached a closing peak of 5.48 percent. The 30-year bond yield, meanwhile, exceeded......
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