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U.S. mortgage rates shoot forward

(BIZ Journals) - 10 months, 4 weeks ago
 After declining last week, U.S. mortgage rates jumped this week, according to Freddie Mac. The 30-year fixed mortgage averaged 3.94 percent for the week ending Oct. 26, up from 3.88 percent the previous week. A year ago, mortgage rates stood at 3.47 percent. Favorable mortgage rates have helped propel U.S. home sales, as well as the refinance market. “The 10-year Treasury yield surged this week, jumping 12 basis points,” said Sean Becketti, chief economist at Freddie Mac. ...
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