Macro EconomyMedium•1 October 2026•
1 min read
US Mortgage Rates Hit 7.28% in Largest Weekly Surge Since 2020
Key Facts
1Mortgage rates rose to 7.28% this week, marking the largest weekly increase in four years.
US mortgage rates rose to 7.28% this week, marking the largest weekly increase in four years. The Wall Street Journal reported that the surge comes as the housing sector continues to struggle under the weight of rising borrowing costs.
The spike is a direct consequence of a sell-off in the bond market which has pushed yields higher, immediately increasing financing costs for homebuyers. These developments follow a broader trend of rising rates that has placed sustained pressure on the US housing market.