US 30-year fixed mortgage rate rose to 7.22% on the 15th after first breaching 7% on the 10th, data-monitors show. Mortgage pricing remains tightly linked to the US 10-year Treasury yield and has climbed as Treasury yields and bank lending costs have risen. Markets are pricing a high probability of further Fed tightening, adding upward pressure on mortgage rates. The National Association of Realtors said existing-home sales fell 2% MoM in August to a 3.98 mln annualized pace, the weakest since J

US 30-year fixed mortgage rate rose to 7.22% on the 15th after first breaching 7% on the 10th, data-monitors show. Mortgage pricing remains tightly linked to the US 10-year Treasury yield and has climbed as Treasury yields and bank lending costs have risen. Markets are pricing a high probability of further Fed tightening, adding upward pressure on mortgage rates. The National Association of Realtors said existing-home sales fell 2% MoM in August to a 3.98 mln annualized pace, the weakest since June last year. Forecasters have cut expected 2026 home-sales growth from 4.3% to 1.3% and see a marked Q4 contraction. Elevated mortgage rates are weighing on buyer demand and compressing homebuilder margins.