October 11, 2018 / 3:21 PM / in 8 days

U.S. 30-year mortgage rate hits 7-1/2 year peak - Freddie Mac

NEW YORK, Oct 11 (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages jumped to a 7-1/2 year high following a dramatic selloff in the bond market that propelled 10-year Treasury yield to its highest level since May 2011, Freddie Mac said on Thursday.

Borrowing costs on 30-year mortgages, the most widely held home loan type in the United States, averaged 4.90 percent in the week ended Oct. 11, up from 4.71 percent the week before, the mortgage finance agency said. (Reporting by Richard Leong)

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