US 30-Year Fixed Mortgage Rate Surges to 7.45%

Key Facts

1The average 30-year fixed mortgage rate jumped sharply to reach 7.45%.

2These levels are the highest since April 2024, driven by a bond sell-off and rising yields.

The average 30-year fixed mortgage rate in the United States jumped sharply to reach 7.45%. CNBC reported that these levels represent the highest point since April 2024, with the surge being driven by a significant sell-off in the bond market that pushed yields higher.

The spike in Treasury yields has triggered higher borrowing costs for homebuyers, which typically dampens housing demand. This movement follows a period of volatility in fixed-income markets, while the New Housing Price Index in Canada recorded a 0.1% decline as of September 18, 2026.