10/3, 7:47 PM (Source: TeleTrader)
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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.

Baha Breaking News (BBN) / JG