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Mortgage rates rise to new highs after smaller-than-expected Treasury buyback

Mortgage News Daily says long-term mortgage rates climbed again after the latest Treasury buyback announcement came in below market expectations, lifting rates to their highest levels since May 2025.

Reported · Written up by our desk · Mortgages

Mortgage rates moved higher after a much-anticipated announcement about the next U.S. Treasury buyback program landed below what investors expected, according to Mortgage News Daily.

The outlet explains that Treasuries act as a baseline for many U.S. interest rates and influence the trading value of mortgage-specific bonds, with mortgage rates generally tracking medium-term Treasuries. While Treasury buybacks can temporarily boost demand and push rates lower, a smaller buyback than expected implies less demand and, all else equal, higher rates.

Mortgage News Daily notes that rates were already near long-term highs before the announcement. Following the update, the increase added another incremental move higher, with rates reaching slightly higher highs.

The outlet adds that last week’s level was the highest since June 2025, and that today’s readings marked the highest since May 2025.

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