Mortgage rates hit 7.58%, approaching 3-year high

Mortgage rates closed in on 7.6% Tuesday as Treasury yields continued to move higher.The average 30-year fixed-rate mortgage rate hit 7.58% on Tuesday, per Mortgage News Daily. That's up 8 basis points from Monday, and is the highest level since November 2023.The 10-year Treasury yield (^TNX), which mortgage rates closely track, was up around 4 basis points to 5.28% as of midday.Read more: How soaring Treasury yields could hit your financesRates remain some distance from late 2023's peak ar