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Business · Personal Finance Updated 51 min ago 2 publishers reporting

30‑year fixed mortgage rate climbs above 7% for the first time in over a year, hitting 7.07%

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News Brief

The average rate on a 30‑year fixed mortgage rose to 7.07% on Thursday, marking the first time it has exceeded the 7% threshold since May 2025. The increase of 10 basis points follows a broader upward trend in mortgage rates that has been linked to movements in the U.S. 10‑year Treasury yield and rising oil prices. The climb comes amid a backdrop of higher home prices, falling existing‑home sales and a dip in home‑builder stock prices.

Key points

  • The average 30‑year fixed mortgage rate reached 7.07%, the highest level since May 2025.
  • Mortgage rates have been moving in step with the yield on the U.S. 10‑year Treasury.
  • Recent oil price spikes and a modest rise in the Producer Price Index were cited as contributing factors.
  • Home‑builder stocks fell after data showed existing‑home sales declining while prices rose.

What sources agree on

  • The 30‑year fixed mortgage rate crossed the 7% mark for the first time in more than a year.
  • The reported average rate was 7.07%, up 10 basis points from the prior day.
  • Mortgage rates tend to follow the U.S. 10‑year Treasury yield.
  • The rise in rates has been occurring since the start of the Iran war.

Still unclear

  • The precise impact of oil price movements and the PPI on the rate increase is not confirmed by both sources.
  • The estimated $244 increase in a typical monthly mortgage payment is reported only by CNBC.
  • Details about the magnitude of the drop in home‑builder stock prices are provided only by CNBC.
Source & attribution

Who is reporting this?

Compare the original headlines, authors and publication times behind this brief.

2 independent reports
  1. 01
    MarketWatchNorth America
    Original headline

    The 30-year mortgage rate just crossed 7% for the first time in over a year

    Author
    Aarthi Swaminathan
    Published
    2026-09-10 18:18 UTC
    Read original
  2. 02
    CNBCNorth America
    Original headline

    30-year fixed mortgage rate tops 7% for the first time in over a year

    Author
    News desk
    Published
    2026-09-10 16:29 UTC
    Read original
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