Mortgage rates surge to highest in 4 years

Mortgage rates jump to the highest point in 4 years, an ominous sign for spring housing Mortgage rates jump to the highest point in 4 years, an ominous sign for spring housing

A huge sell-off in the bond market is about to make buying a home more expensive. Mortgage rates, which loosely follow the yield on the 10-year Treasury, have been rising for the past few weeks, but are seeing their biggest move higher Monday.

"Bottom line, rate sheets are going to be ugly this morning," wrote Matthew Graham, chief operating officer of Mortgage News Daily. "Some lenders will be at 4.5 percent on their best-case-scenario 30-year fixed quotes."

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