Mortgage rates jump most since October, denting home demand

By Vince Golle | Bloomberg

US mortgage rates jumped last week by the most since October on the back of heightened volatility in the Treasury market, causing a pullback in financing applications for home purchases and refinancing.

The contract rate on a 30-year mortgage increased 20 basis points in the week ended April 11 to 6.81%, the highest since February, according to Mortgage Bankers Association data released Wednesday. Rates on adjustable and 15-year fixed mortgages also climbed.