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Mortgage rates break above 7% as 10-year yields and oil climb

The 10-year Treasury yield rose to 4.92% while WTI oil moved above $100, pushing borrowing costs past the 7% level again.

Reported · Written up by our desk · Mortgages

HousingWire reports that U.S. mortgage rates crossed above the 7% threshold as the 10-year Treasury yield climbed to 4.92% and WTI oil rose above $100.

The outlet links the move to market pressure tied to a more hawkish Federal Reserve outlook, pointing to low jobless claims and an unemployment rate of 4.1% that keep rate expectations supported.

Housing demand often improves when mortgage rates fall below 6.64% and head toward 6%, while demand tends to fade when rates rise above 6.64% and break above 7%. HousingWire says that “critical 7% line” has now been crossed, ending a stretch where rates had remained under 7% despite earlier volatility in yields.

HousingWire also argues that oil prices and the 10-year yield are increasingly moving together in 2026, noting that higher oil has coincided with higher yields and, in turn, higher mortgage rates.

Latest closeWTI crude $91.10 ▲3.2%

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