U.S. 30-year mortgage rate reaches 7.45% as bond yields surge

The average U.S. 30-year mortgage rate has climbed to 7.45%, up roughly 150 basis points over the past six months.
The increase comes alongside a sharp rise in Treasury yields, which has pushed borrowing costs higher across the economy. Mortgage rates are particularly sensitive to longer-term rates and expectations for inflation and monetary policy.
The renewed increase in financing costs adds pressure to housing affordability and could further constrain activity across the U.S. residential real-estate market.