US 30-Year Mortgage Rate Surges to 7.28%, Marking Nearly Three-Year High

U.S. mortgage rates have climbed to their highest level in roughly three years as bond yields surge. According to Freddie Mac data for the week ending October 1, 2026, the 30-year fixed-rate mortgage jumped 25 basis points to 7.28% from 7.03%, posting its largest one-week increase in four years and marking its sixth consecutive weekly rise. The 15-year fixed rate also climbed to 6.60% from 6.42%. The spike tracks a broader bond market selloff, with the 10-year Treasury yield elevated at 5.248%, worsening housing affordability and suppressing demand.