US 30-YEAR MORTGAGE RATE HITS 7.28%

The 30-year fixed mortgage rate climbed to 7.28% for the week ending October 1, its fourth straight weekly increase, according to Freddie Mac's Primary Mortgage Market Survey. That compares with 7.03% just a week earlier and 6.34% a year ago, the steepest annual jump in borrowing costs since the multi-decade highs of 2023. Homebuilders tracked in $ITB face a buyer pullback as financing costs climb toward 2023 peaks.