Global Housing Markets Buckle Under 7% Mortgage Shock as High-End Sectors Lead the Correction

The average 30-year fixed mortgage rate rocketed from 6.89% to 7.07% in just two days this week—the steepest two-day climb in over a month—pushing borrowing costs to their highest level since May 2025. The surge, tracked by Mortgage News Daily, came as the 10-year Treasury yield neared 5%, dragged higher by inflation expectations tied to the ongoing conflict in the Middle East. For homebuyers already battered by months of rising rates,...