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22.05.26 - 13:09
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Mortgage Rates Hit 9-Month High, Freezing Out Homebuyers In Peak Season (ZeroHedge)
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Mortgage Rates Hit 9-Month High, Freezing Out Homebuyers In Peak Season
The average rate on a 30-year fixed mortgage climbed to its highest level since August, threatening to derail the spring selling season as higher Treasury yields and renewed inflation pressure push loan costs higher and freeze more prospective buyers out of the market.
Freddie Mac data released Thursday show the 30-year fixed mortgage rate for the week ending May 21 jumped to 6.51% from 6.36%, the highest rate since Aug. 28, 2025.
Soaring mortgage rates stem from turmoil in the Gulf region, with the U.S.-Iran war driving up oil prices, inflation, and bond yields over the last three months. Rates on 10-year Treasuries hit their highest level in one year, while 30-year yields neared 2007 highs.
Mortgage rates fell to around 6% in early February, lifting hopes for a housing market rebound after three consecutive years of depressed activity. Yet hopes for a robust selling season were dashed because the conflict in the Middle...
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