U.S. mortgage rates hit three-year high

Mortgage long-term interest rates in the United States have risen to their highest level in approximately three years, with the average rate on a fixed 30-year loan reaching 7.49% by the end of the first week of October, making home purchases more difficult to finance. This increase is linked to the 10-year U.S. Treasury bond yield reaching its highest point in 24 years, driven by inflation pressures and rising oil prices, alongside strong U.S. economic growth. Mortgage loan application demand declined by 4.2% last week, with a significant drop in refinance requests—marking the lowest level since February 2025—reflecting reduced incentives for borrowing due to rising costs.

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