30-year mortgage rates rise above 7% impacting housing market
PBS · September 28, 2026Original source ↗
What happened
The average rate on a 30-year mortgage has exceeded 7% for the first time in twenty months. This increase coincides with Treasury yields reaching multi-decade highs, which affect borrowing costs throughout the economy.
Why it matters
This development could further challenge housing affordability for potential homebuyers.
How this story affects people
How does this story affect you if you are shopping for a mortgage?
This rise in mortgage rates means higher monthly payments for homebuyers, making it more difficult to afford a home. Potential buyers may need to adjust their budgets or reconsider their home purchasing plans due to increased borrowing costs.
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