Mortgage rates reach 7.48% as 10-year yield holds at 5.35%
Deals awaiting closing dropped to 54,060, while spreads sat at 2.12% and buyers weighed whether to hold off.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
Mortgage rates reached 7.48%, with the 10-year yield steady at 5.35% and spreads at 2.12%. Contracts pending dropped to 54,060. Coverage also examined what delaying a purchase could cost if rates keep rising.
Why it matters
Buyers weighing a delay could face higher costs if rates keep climbing.
Timeline
- Oct 10, 5:58 PM ET: Mortgage rates were reported at 7.48% with the 10-year yield at 5.35%.
- Oct 11, 1:00 PM ET: Mortgage rates neared 7.5%, prompting analysis of what waiting to buy could cost.
More from Business
- Musk pledges SpaceX stock for every American child next year
- Small businesses sue to halt Trump's tariffs on Canadian imports
- Houthi attacks force Saudi Arabia to postpone investor conference
- Bank of America keeps October rate hike call despite markets
- Connecticut man admits losing $1.16M of investor crypto funds
- AI stock selloff keeps markets jittery as CoreWeave debt worries spread