(AURN News) — Buying a home just got even harder as mortgage rates jumped sharply and bond market volatility returned in force.

According to a report by Mortgage News Daily, the 10-year Treasury saw the biggest week-over-week increase since 1981, a move that quickly rippled through lending rates.

Lenders have now raised the typical rate for a 30-year fixed conventional mortgage to 7.125%, the outlet reports. That’s a half percentage point higher than last week and marks the biggest single-week jump since 2022.

The spike in rates adds more pressure to prospective homebuyers already facing high prices and limited supply — making the path to homeownership, often called the American dream, even more difficult.

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