U.S. 30-Year Mortgage Rates Surge to 7.5%, Reaching Highest Level Since April 2024

Average U.S. 30-year fixed mortgage rates have surged to 7.5%, marking the highest borrowing threshold recorded since April 2024 amid intense upward pressure from the broader bond market sell-off and rising Treasury yields.
The sharp upward move—jumping nearly 30 basis points over a multi-day span—compounds affordability hurdles for prospective homebuyers and adds strain to real estate activity as long-term debt costs climb.
The spike directly mirrors the recent volatility in sovereign yields, forcing buyers and market participants to recalibrate expectations for borrowing costs in a "higher-for-longer" interest rate environment.