Because last week’s election fell in the middle of FreddieMac survey week, it was impossible to determine how closely the mortgage rate would track the post-election sell-off in the Treasury market. This week, however, the verdict is in: over the last two weeks the 30-year mortgage rate jumped by a whopping 40 basis points to 3.94 percent, almost identical to the 39 basis point increase in the 10-year Treasury yield, and sending the average 30 year mortgage to levels last seen at the start of the year.

Read more: http://tinyurl.com/gktuvja