U.S. mortgage-rate pressure is intensifying: 30-year rates are near 7% as the 10-year Treasury trades around 4.63%, tightening financial conditions. Higher yields are feeding directly into housing affordability, with weak buyer activity, limited supply, and low-rate mortgage lock-in weighing on the spring market. Inflation near 4%, oil-price pressure, and Middle East/Strait of Hormuz risks are reducing confidence in 2026 Fed rate cuts and keeping bond volatility elevated. Watch Treasury yields, energy prices, and Fed-cut expectations: sustained pressure raises borrowing costs across mortgages, refinancing, and valuations. #MortgageRates #TreasuryYields #HousingMarket #Inflation #Fed