Signs of trouble continue to show up in the world’s largest, most liquid government-securities market as government bonds logged their worst week in years and the U.S. central bank’s interest rate hiking cycle gets under way.
The average rate on the 30-year fixed mortgage shot significantly higher Friday, rising 24 basis points to 4.95%, according to Mortgage News Daily. It is now 164 basis points higher than it was one year ago.
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