Mortgage rates have reached a new high in 2026, approaching 7 percent. A global sell-off in the bond market is affecting the housing market, causing US mortgage rates to surge to their highest level of the year. This puts new pressure on home buyers and owners looking to refinance their loans.

The average rate for 30-year fixed mortgages rose to 6.71 percent this week, according to Freddie Mac. This is the highest level since July 2025. Mortgage rates are closely tied to the yield on 10-year Treasury bonds, which tends to move in line with investor expectations for future inflation and economic growth.

Further details on the impact of the bond market on mortgage rates are available from the source.