October 4, 2018 / 3:01 PM / 8 months ago

U.S. mortgage rates may jump 10-15 bps: Freddie Mac economist

NEW YORK (Reuters) - Borrowing costs on U.S. 30-year mortgages would increase 10 to 15 basis points by next week if benchmark 10-year Treasury yields were to stay near their seven-year peak, Freddie Mac’s chief economist Sam Khater said on Thursday.

U.S. bond yields jumped on Wednesday in the wake of stunningly strong data on private hiring and the service sector, together with hints from Federal Reserve officials that the central bank may raise interest rates for a fourth time this year in December.

Reporting by Richard Leong

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