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Mortgage Rates Soar to 10-Month High After Trump Bond Rout

By Tony Seruga

Average 30-year fixed rate jumps to 3.94%, Freddie Mac Says
Federal Reserve seen boosting borrowing costs in December

U.S. mortgage rates skyrocketed to a 10-month high as investors reacted to Donald Trump’s presidential election win by pulling money out of the bond market, driving up yields that guide home loans.

The average rate for a 30-year fixed mortgage was 3.94 percent, up from 3.57 percent last week and the highest since January, Freddie Mac said in a statement Thursday. The average 15-year rate rose to 3.14 percent from 2.88 percent, the McLean, Virginia-based mortgage-finance company said…

Mortgage Rates Soar to 10-Month High After Trump Bond Rout

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