Mortgage rates top 7% as higher borrowing costs hit consumers | Morning Bid

The global bond selloff pushes U.S. 30-year yields to their highest in more than two decades, driving mortgage rates above 7% and squeezing borrowers. Reports of a phased U.S.-Iran deal offer some hope that the Strait of Hormuz could reopen. But oil markets remain cautious, with any relief from a deal unlikely to come quickly.
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