10-year Treasury yield just hit 5.04% — highest since July 2007.
That's pushing 30-year mortgage rates to 7.17%.
For context: A $400k mortgage at 7.17% costs about $2,700/month. Same loan at 3% (2021)? $1,686/month.
That's a $1,000+ monthly difference. Homeownership isn't just expensive anymore — it's becoming inaccessible for most.
Higher rates = higher borrowing costs across the board. Companies refinancing debt, consumers financing cars, credit card rates — everything gets more expensive.
This isn't just a housing story. It's a cost-of-capital story that touches every corner of the economy.
That's pushing 30-year mortgage rates to 7.17%.
For context: A $400k mortgage at 7.17% costs about $2,700/month. Same loan at 3% (2021)? $1,686/month.
That's a $1,000+ monthly difference. Homeownership isn't just expensive anymore — it's becoming inaccessible for most.
Higher rates = higher borrowing costs across the board. Companies refinancing debt, consumers financing cars, credit card rates — everything gets more expensive.
This isn't just a housing story. It's a cost-of-capital story that touches every corner of the economy.
