US 30-Year Mortgage Rates Hit Seven-Year High as Bond Selloff Accelerates

U.S. 30-year mortgage rates surged to 7.49%, their highest level in nearly three years, signaling a sharp acceleration in the bond market selloff. This spike is compounded by rising oil prices and geopolitical tensions, creating a perfect storm for rate-sensitive equities. Mortgage demand has collapsed, with applications hitting their lowest level since 2025.

The yield surge reflects persistent inflation concerns and uncertainty ahead of the Fed minutes release. Treasury yields have reached fresh 24-year highs, placing severe pressure on real estate stocks $XHB, financial institutions, and consumer-discretionary sectors that depend on accessible credit.

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