Rates climb as housing demand rebounds and growth stays uneven
We enter the September 29 week with financing costs at new recent highs even as demand signals remain mixed. The 10-year Treasury yield reached 5.24% Monday and Freddie Mac's latest 30-year mortgage average rose above 7%. August new-home sales rebounded, but available supply remained elevated at 8.5 months. Durable-goods orders were virtually unchanged, while the Dominican economy maintained 4.5% average growth through August.
01 · RATES & FINANCING
10-year Treasury yield reaches 5.24%
The U.S. Treasury's daily curve placed the 10-year yield at 5.24% on September 28, up from 5.17% on September 25 and 4.96% one week earlier. The 30-year yield reached 5.56%.
Freddie Mac reported that the 30-year fixed-rate mortgage averaged 7.03% on September 24, up from 6.95% the prior week. The 15-year average rose to 6.42% from 6.26%.
New single-family home sales rose to a seasonally adjusted annual rate of 684,000 in August, 6.4% above July but 2.0% below a year earlier. Inventory held at 483,000 homes, equal to 8.5 months of supply, and the median sales price was $393,700. The monthly sales change was not statistically significant at the reported margin of error.
New orders for manufactured durable goods edged down $0.1 billion to $338.6 billion in August after a 0.9% July increase. Excluding transportation, orders rose 0.3%; excluding defense, they rose 0.1%. Transportation equipment orders fell 0.6%.
The Banco Central de la República Dominicana reported average real economic activity growth of 4.5% for January through August compared with the same period of 2025. The monthly IMAE rose 3.8% year over year in August.
The Bureau of Labor Statistics will publish August job openings, hires, quits, and layoffs on Tuesday, September 29, at 10:00 a.m. ET. The July report showed 7.3 million job openings; no August result is assumed here.
The Bureau of Economic Analysis will release August personal income and outlays, including the PCE price indexes, at 8:30 a.m. ET on Wednesday, September 30. Updated second-quarter GDP, corporate profits, and state income data are due at the same time; no result is assumed.