Barnwell Industries Inc

The average 30-year fixed mortgage rate jumped to 6.85% on Thursday, its highest level since mid-July 2025, according to Mortgage News Daily, as rising Treasury yields and geopolitical tensions stoke inflation fears. The rate climbed 22 basis points in just four days, while Freddie Mac reported a 2026 high of 6.58% for the week ending July 23. The 10-year Treasury yield topped 4.7%, prompting economists to warn that a move toward 5% could push mortgage rates back to 7% for the first time since January 2025. However, some analysts see a ceiling on rates because low transaction volumes force lenders to compete aggressively. Record home prices—the median existing-home price hit $440,600 in June—and higher energy costs are adding to affordability strains for buyers.