Treasury Yield Surge Pushes 30-Year Fixed Mortgage Rate to 6.11%
The 10-year Treasury yield has risen above 4.25%, driving the average 30-year fixed mortgage rate up 11 basis points to 6.11% this week. Zillow data lists national average purchase rates at 6.01% for 30-year fixed and refinance rates at 6.19%.
1. Treasury Yield Driving Mortgage Rates
The 10-year Treasury yield climbed above 4.25%, fueling upward momentum in mortgage pricing and reducing prospects for near-term rate declines until geopolitical tensions ease.
2. Weekly Fixed-Rate Increase
Weekly data shows the average 30-year fixed mortgage rate rose 11 basis points to 6.11%, while the average 15-year fixed rate increased seven basis points to 5.50%.
3. Current Purchase Rates
Zillow's national averages list the 30-year fixed purchase rate at 6.01%, 20-year fixed at 6.11%, 15-year fixed at 5.60%, 5/1 ARM at 6.06% and 7/1 ARM at 6.24%.
4. Refinance Rate Landscape
Refinance benchmarks include a 6.19% rate for 30-year fixed, 6.19% for 20-year fixed, 5.71% for 15-year fixed, 6.06% for 5/1 ARM and 6.01% for 7/1 ARM, with VA refinance rates slightly lower.