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Lance Lambert reports that the average 30-year fixed mortgage rate has reached 7.60 percent, marking 11 consecutive days above the 7.50 percent threshold. This streak is approaching the cycle high of 33 days observed in fall 2023.
He adds that the 10-year Treasury yield is at 5.24 percent today, with a spread of 236 basis points. A year ago on this date, the 30-year fixed mortgage rate was 6.36 percent.
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Lambert previously reported that U.S. 30-year fixed mortgage rates averaged 7.56 percent with the 10-year Treasury yield at 5.28 percent. In an earlier update, he highlighted an average mortgage rate of 7.57 percent alongside a 10-year yield of 5.29 percent. Recent figures continue the trend of elevated mortgage rates and wide spreads.