Mortgage rates continued to inch towards 7% this week as the 10-year treasury yields climbed past the 4% threshold.

Investors assessed the state of the U.S. economy after Fitch Ratings downgraded the U.S.′ long-term, foreign currency issuer default rating from AAA to AA+ on Tuesday. The following day, the U.S. Treasury announced that it would sell off more than $100 billion of long-term securities.

Some economists say that this development contributed to drive up the 10-year treasury yield to its highest level since November 2022. However, there are differing opinions on this matter. details ⇒

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