TELETRADER News
10/3, 7:47 PM
(Source: TeleTrader)
Average 30-yr fixed mortgage rate up to 7.72%, highest since 2000
The average rate on the key 30-year fixed mortgage climbed 11 percentage points to 7.72% on Tuesday, according to Mortgage News Daily. The reading is the highest seen since November 2000.
Mortgage rates track the 10-year Treasury yield, which has risen this week on the back of strong economic data. Today, the 10-year Treasury yield rose to 4.791%, reaching the highest level since the summer of 2007.
MND provides the average 30-year fixed mortgage rates from several different surveys, including Mortgage News Daily, Freddie Mac, Mortgage Bankers Association, and FHFA.