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Mortgage rates near 3-year high, applications plunge

By PulseAugur Editorial · [1 sources] ·

Mortgage rates have climbed to their highest point in nearly three years, exceeding 7.28% for a 30-year fixed loan. This surge, closely mirroring the rise in 10-year Treasury yields, has led to a significant drop in mortgage applications, with the Mortgage Bankers Association reporting a 6% decrease in a single week. As affordability wanes, a growing number of buyers are turning to adjustable-rate mortgages, which now constitute over 10% of applications. Despite current pressures, some economists anticipate a decrease in rates by late 2027, potentially easing market conditions. AI

RANK_REASON Article discusses market trends and expert opinions on mortgage rates and housing sales, rather than a specific event.

Read on Axios Technology →

AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Mortgage rates near 3-year high, applications plunge

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Article discusses market trends and expert opinions on mortgage rates and housing sales, rather than a specific event.
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COVERAGE [1]

  1. Axios Technology TIER_1 English(EN) · Nathan Bomey ·

    Mortgage rates approach 3-year high as new applications plunge

    <p>Mortgage rates spiked to their highest level in nearly three years, continuing their climb above the 7% threshold. </p><p><strong>Why it matters: </strong><a href="https://www.axios.com/2026/08/28/housing-mortgages-prices-economy" target="_blank">Housing sales</a> were already…

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