U.S. 30-year mortgage rate rises to 7.28%, the highest in nearly 3 years.

Freddie Mac, a U.S. housing finance agency, released data on October 1 local time showing that the average rate on a 30-year fixed mortgage in the United States rose to 7.28%, the highest level since November 22, 2023, and the figure has risen for six consecutive weeks. A week earlier, the figure was 7.03%, and a year earlier it was 6.34%. Since the beginning of this year, the average rate on a 30-year fixed mortgage in the United States had fallen to a three-year low of 5.98% on February 26, after which it generally trended upward for several consecutive months due to the impact of the Iran war. U.S. mortgage rates are affected by factors such as the Federal Reserve's federal funds rate and the yield on the U.S. 10-year Treasury note. The yield on the U.S. 10-year Treasury note rose to 5.27% on October 1, far above the 3.97% level before the Iran war occurred.