{"id":508,"date":"2026-10-07T20:07:14","date_gmt":"2026-10-07T20:07:14","guid":{"rendered":"https:\/\/bugleblast.com\/?p=508"},"modified":"2026-10-07T20:07:36","modified_gmt":"2026-10-07T20:07:36","slug":"treasury-yields-24-year-high-mortgage-rates-fed-minutes","status":"publish","type":"post","link":"https:\/\/bugleblast.com\/?p=508","title":{"rendered":"THE BOND MARKET IS BREATHING FIRE \u2014 MORTGAGES HIT 7.49%! | The 30-year Treasury touches a 24-year high, Brent flirts with $100, stocks slide off record highs \u2014 and Fed minutes say most officials still see another hike by year-end"},"content":{"rendered":"

Wall Street\u2019s party hit a wall made of bonds. Stocks closed lower Wednesday as long-dated US Treasury yields resumed their climb, reviving fears about inflation and mounting debt one day after the S&P 500 and Nasdaq hit record closes, Reuters<\/a> reports. Brent crude briefly crept above $100 a barrel<\/strong> and the 30-year Treasury yield touched a 24-year high<\/strong>.<\/p>\n

The scoreboard, per Reuters\u2019 preliminary data: the S&P 500 lost 0.23% to 7,801.15, the Nasdaq dropped 0.24% to 27,533.39, and the Dow fell 355.91 points, or 0.69%, to 51,165.37. Earlier in the session the 30-year yield was at 5.72%<\/strong>, the highest since 2002, according to Reuters via GV Wire<\/a>; the Motley Fool<\/a> had the 10-year at 5.31%. Caterpillar fell more than 6% after an analyst downgrade, and Webull tumbled 20% on reports a congressional committee raised concerns about its China connections.<\/p>\n

Now the part that hits your kitchen table: the average 30-year fixed mortgage rate jumped to 7.49%<\/strong> from 7.30% \u2014 the highest in almost three years \u2014 and mortgage applications fell 4.2%<\/strong> in the week ending Oct. 2, the Mortgage Bankers Association said, per HousingWire<\/a>. Refinance applications were 56% below a year ago. \u201cVery few homeowners have an incentive to refinance at these rates,\u201d said MBA deputy chief economist Joel Kan. Homebuilder stocks slid 2.9%, Reuters says.<\/p>\n

Then the Fed dropped its homework. Minutes of the Sept. 15\u201316 meeting \u2014 where officials voted unanimously for a quarter-point hike to 3.75%\u20134.00% \u2014 show policymakers divided over why they hiked: some to keep energy and other price shocks from spreading, a more hawkish core to guard against demand-driven inflation, Reuters<\/a> reports. \u201cMost participants assessed that another increase in the target range for the federal funds rate would likely be appropriate by year end,\u201d the minutes said.<\/p>\n

Markets aren\u2019t betting on October, though: traders price less than a 20% chance of a second straight hike at the Oct. 27\u201328 meeting, down from 37.6% a week ago, per CME FedWatch, Reuters says. Stocks pared losses after the International Energy Agency agreed to speed the release of oil stocks, prioritizing diesel.<\/p>\n

Bottom line: oil up, yields up, mortgages up \u2014 and the only thing going down is the number of people who can afford a house.<\/p>\n

Sources:<\/strong> Reuters (StreetInsider)<\/a> \u00b7 Reuters via GV Wire<\/a> \u00b7 HousingWire<\/a> \u00b7 Reuters on Fed minutes (Investing.com)<\/a> \u00b7 The Motley Fool<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 30-year Treasury touches a 24-year high, Brent flirts with $100, stocks slide off record highs \u2014 and Fed minutes say most officials still see another hike by year-end<\/p>\n","protected":false},"author":1,"featured_media":509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/bugleblast.com\/wp-content\/uploads\/2026\/10\/bb-bond-yields-mortgage-1007.jpg","_links":{"self":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=508"}],"version-history":[{"count":1,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/508\/revisions"}],"predecessor-version":[{"id":510,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/508\/revisions\/510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/media\/509"}],"wp:attachment":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}