30-year Treasury yields reach about 5.5% as mortgage rates hit 7.45%

Most risk-free U.S. interest rates are now above 5% after weeks of bond selling, Axios reported Sunday, Sept. 27.

• Housing: Mortgage News Daily put the 30-year fixed rate at 7.45% on Thursday, Sept. 24. Rates have not stayed that high since 2000, and sales freeze when buyers can't pay and sellers won't cut.
• Federal budget: The Congressional Budget Office (CBO) projected $1 trillion in net interest this year and $2 trillion by 2035. That assumed a 10-year yield near 4.3%; it is now nearly a point higher.
• The Federal Reserve raised rates last week, and Axios says more hikes are likely.