Mortgage rates inch toward 7.5% as 10‑year Treasury yields rise

On Oct. 8, 2026, Freddie Mac reported the average 30‑year fixed‑rate mortgage at 7.4%, a 12‑basis‑point rise from the prior week and 94 basis points lower than the same date in 2025. The 15‑year fixed rate was 6.73%, up 13 basis points from last week.

The 10‑year Treasury yield opened at 5.32% on Oct. 8, creating a 2.08‑percentage‑point spread that drives mortgage rates. Fed funds rate hikes are expected to push rates further, influencing home‑price trends and sales activity in 2027.

Homebuyers can now evaluate total costs—including principal, interest, insurance, taxes, and maintenance—without waiting for refinancing. Lower rates and a broader spread may encourage purchases of smaller homes or condos, expanding equity building opportunities.

Read the full story at finance.yahoo.com.