Treasury Yield Surge Pushes Mortgage Rates Higher on $340,000 Harrisburg Home

4 articles · Updated · Bloomberg · May 21

$340,000 is the price Najimah Roberson agreed to pay for a five-bedroom fixer-upper near Harrisburg, but rising mortgage rates before her June closing have left her unsure whether to proceed.
Nearly 30 failed bids over two years preceded the deal, underscoring how a lifelong renter finally found a home only to face a fresh affordability hit from higher borrowing costs.
Treasury yields are driving that pressure, disrupting mortgage rates in a break from the decades-long decline that had helped make home financing cheaper over time.
For buyers like the 42-year-old daycare business owner, the shift means the biggest obstacle is no longer just finding a house, but locking in financing before rates climb again.

With a Mideast war fueling high rates, is the American dream of homeownership becoming a nightmare?

Is the housing market fracturing, shifting wealth from Sun Belt boomtowns to the affordable Midwest?

As rising housing costs crush childcare providers, who will be left to care for the nation's children?