Mortgage News Daily’s 30-year fixed mortgage rate reached 7.50% on Monday, September 28, up 7 basis points from 7.43% on September 25. The latest completed reading was published at 4:07 p.m. ET, meaning the 7.50% figure is the latest verified daily observation available for this September 29 report, rather than a new Sept. 29 lender average. MND said the average lender reached 7.50% for the first time since April 30, 2024.
The move coincided with a broader rise in long-term Treasury yields. The U.S. Treasury’s official par-yield curve showed the 10-year Treasury at 5.24% on September 28, up from 5.17% on September 25, while the 30-year Treasury rose to 5.56% from 5.49%. Treasury says these constant-maturity yields are derived from indicative bid-side market quotations obtained by the Federal Reserve Bank of New York at or near 3:30 p.m. each trading day.
That cross-market move is important, but it does not establish a single cause for the mortgage-rate increase. MND’s Sept. 28 market commentary said oil prices did not explain much of the recent upward momentum and pointed instead to a combination of strong economic data, concern that incoming data could remain firm, Treasury supply-and-demand conditions and elevated bond-market supply.
MND also reported the 30-year UMBS 6.0 at 98.09, down 0.11, alongside a 5.256% 10-year Treasury market quote. The latest move is also different from the weekly Freddie Mac number. Freddie Mac’s Primary Mortgage Market Survey was 7.03% for the week ending September 24, up from 6.95% the prior week.
That survey is based on mortgage rates collected from loan applications and is released weekly, while MND publishes a daily market index. Investozora previously reported the 6.95% weekly reading in Mortgage Rates Jump to 6.95%, Up 19 Basis Points in a Week and the 7.03% Freddie Mac reading in Mortgage Rates Today, September 25, 2026: 30-Year Rate Stays Above 7% as Bond Yields Rise.
For borrowers, 7.50% matters because mortgage pricing remains closely tied to the bond and mortgage-backed-securities market rather than moving one-for-one with the Federal Reserve’s overnight policy rate. Investozora’s recent analysis, Why Treasury Yields Are Staying High, examined the broader long-duration rate pressures, while Barr Says U.S. Home Affordability Index Hit 21-Year Low of 68 documented the affordability pressure already facing prospective buyers.
The Federal Reserve is not making a new rate decision on September 29. Its most recent meeting ended September 16 with a quarter-point increase in the federal-funds target to 3.75%–4.00%; the next scheduled FOMC meeting is October 27–28.
The immediate market test comes Tuesday at 10:00 a.m. ET, when the Bureau of Labor Statistics is scheduled to release August JOLTS data. The larger labor-market test is the September employment report on Friday, October 2, at 8:30 a.m. ET. Those releases will give bond markets fresh evidence to reassess the rate outlook after the latest rise in long-term yields.
