30-Year Mortgage Rates Hit 7.40% as Treasury Yields Climb
Freddie Mac’s weekly survey shows 30-year fixed mortgage rates jumped to 7.40% on October 8, 2026, driven by higher 10-year Treasury yields.
Freddie Mac’s weekly survey shows 30-year fixed mortgage rates jumped to 7.40% on October 8, 2026, driven by higher 10-year Treasury yields.
The 2s10s Treasury yield curve steepened to +46 bps as the 10-year yield held at 5.24%, creating a challenging refinancing backdrop for corporate borrowers.
The 10-year U.S. Treasury yield closed the third quarter at 5.29% as benchmark borrowing rates logged an 85-basis-point quarterly surge across debt markets.
As the 10-year Treasury yield clears 5.00%, Bank of America calls the century-worst bond slump a generational entry point for patient capital.
30-year mortgage rates aren’t tied to the Fed’s rate. They track the 10-year Treasury plus a mortgage spread. Here’s how the math works.