The trend is driven by Federal Reserve tightening and 10 year Treasury yields remaining above 5.1%, which has pushed buyer demand and builder confidence to 1 year lows. While homebuilders like Lennar have cut financial guidance, Berkshire Hathaway has expanded its industry exposure by acquiring Taylor Morrison and taking a 10% stake in Lennar. Rising costs have also pushed more borrowers toward adjustable rate loans, with the monthly payment on a $500,000 mortgage reaching $4,000.
Tuesday, October 20, 2026
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US 30 Year Mortgage Rate Hits 7.58% Highest Since Nov 2023
US Markets21 days ago
Borrowing costs for American homebuyers reached a new height last week as interest rates continued to climb. The average 30 year fixed mortgage rate hit 7.58% on Sept. 29, the highest level since November 2023 and an increase from the 7.5% recorded on Sept. 28. This ascent follows five consecutive weekly increases and a steep rise from the 5.99% floor seen at the end of February.
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