Home-mortgage rates have surged to their highest level in more than three months, with the average for 30-year fixed-rate loans jumping to 5.44% last week. That was the highest level since early February, according to a survey by HSH Associates, a financial publisher cited by the Wall Street Journal.
Last Thursday’s 5.44% rate, while low by historic standards (but not in recent months), represented a jump from 5.29% Wednesday and 5.03% Tuesday.
Mortgage rates are being pushed up in part by a steep increase in yields on long-term Treasury bonds.
“The spike in rates has the potential Continue reading