Mortgage rates exceed 7% for first time since early 2025

Mortgage rates in the U.S. rose to over 7% for the first time since January 2025, with the average 30-year fixed mortgage increasing to 7.03%. The rise is driven by increases in the 10-year Treasury yield, which hovered around 5.1%, influenced by inflation pressure and higher oil prices. This rate movement reflects ongoing impacts of market dynamics and geopolitical factors on borrowing costs.

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