December 7, 2010 / 9:36 PM / 7 years ago

U.S. 30-year mortgage rates jump - LendingTree.com

NEW YORK, Dec 7 (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages jumped on Tuesday as Treasury bonds sold off, real estate website LendingTree.com said.

Rates on 30-year fixed mortgages, the most widely used loan, were 4.78 percent Tuesday afternoon, up from 4.67 percent at the same time Monday, according to LendingTree.com, which is based in Charlotte, North Carolina.

That is also up sharply from a week earlier when the national average, with one point, was 4.57 percent.

Mortgage rates are linked to yields on Treasuries and yields on mortgage-backed securities. Yields move inversely to price.

Treasuries tumbled on Tuesday with benchmark yields US10YT=RR posting their biggest one-day rise since June 2009 and their highest since June of this year as a proposed extension of tax cuts raised concerns over inflation and the rising costs of the federal government’s massive debt burden. (Editing by James Dalgleish)

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