09/24/2026
Treasury yields spiked today to their highest levels since 2007. The 10-year treasury yield is the benchmark that has the most direct influence over mortgage rates. This spiked to 5.1%. 13 basis points. This caused the average 30-year fixed rate mortgage to jump up to about 7,45% today. On the flip side, we did have a very strong jobs report showing jobless claims are at a 57-year low. So, while the strong labor market is good for the real estate market, the rising interest rates are not. It will be very interesting to see what the real estate market does this Fall.
Treasury yields traded higher on Wednesday as new services and manufacturing sector data increased worry of further Federal Reserve rate hikes.