US 30-year mortgage rates have risen to 7.45% as a sharp bond-market repricing pushes Treasury yields higher and investors reassess the Federal Reserve’s policy path. The rate increased 17 basis points and is 150 basis points above its level six months ago, making it the highest since November 2023, when inflation remained elevated. The 10-year Treasury yield gained 30 basis points in two days, including its largest daily increase since April 9, 2025. Brent crude has moved above $105 a barrel, diesel prices have reached records, and global diesel consumption rises by about 2 million barrels per day during peak demand season. US consumers expect inflation of about 4.6% over the next year, among the three highest readings of the past 12 months. Markets now price 100 basis points of rate hikes by next summer after the Federal Reserve’s first unanimous decision since May 2025, which raised rates and emphasized price stability. The Kobeissi Letter linked the pressure to inflation expectations, US deficit spending and increased Treasury issuance, while saying a Treasury intervention produced only a limited market reaction. The report expects inflation above 3% to persist into mid-2027 and says the dollar has lost 40% of its purchasing power over 10 years.