30-year mortgage rate hits 7.45% after rapid two-day climb

7.45% is the new US 30-year fixed mortgage rate, up 0.28 percentage points in just two days, MarketWatch reported Sept. 25. A basis point is one-hundredth of a point, so that's 28 of them. MarketWatch says 8% is 'not an impossibility.' My take: that speed quickly means higher monthly payments for buyers and little reason to refinance.