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Mortgage rates rise as 10-year Treasury yields climb above 5.1%

The average top-tier 30-year fixed rate increased 0.09% to 7.26% after the 10-year Treasury yield jumped over 5.1%.

Reported · Written up by our desk · Inflation

Mortgage News Daily reports that the rate market reacted sharply to a report with results described as unusually strong versus expectations, arriving during a week with a light economic calendar.

The outlet says 10-year Treasury yields were previously in a September range of 4.93% to 5.01%, but later jumped over 5.1% as investors reassessed next year's Fed rate expectations.

As longer-term rates adjust to changes in rate-hike expectations, Mortgage News Daily reports the average top-tier 30-year fixed mortgage rate rose 0.09% to 7.26%, matching the high seen in early 2025.

The piece adds that 7.26% was the highest level since May 1, 2024, and notes that the move forced the market to consider similar upside surprises in the more important data scheduled for next week.

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