
Mortgage rates jumped to 2026 highs after a sudden move in the bond market, illustrating how modest Treasury weakness can be amplified in mortgage pricing. That spike has already eroded buyer affordability in the spring market and may dampen demand. The latest reading—top-tier 30-year fixed rates back above 6.5%—reinforces that bond-driven volatility remains the main driver and that affordability risks could continue until market yields calm.
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