US mortgage rates touch seven-year highs as yield curve steepens

According to weekly data released by Freddie Mac, the average 30-year fixed-rate mortgage rate jumped 19 basis points over the past week to 4.90 percent, its largest weekly increase since 2016 and the highest level seen in seven years.

  • By Alexander Saeedy
  • 11 Oct 2018

Rates are the highest they have been since April 2011. 30-year mortgage rates touched post-crisis lows in 2013 and have been increasing ever since.

According to Len Kiefer, deputy chief economist at Freddie Mac, the recent spike in 10-year Treasuries is one major culprit behind rising mortgage rates. ...

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