US Mortgage Rates Jump Most Since October, Denting Home Demand

US mortgage rates jumped last week by the most since October on the back of heightened volatility in the Treasury market, causing a pullback in financing applications for home purchases and refinancing.

The contract rate on a 30-year mortgage increased 20 basis points in the week ended April 11 to 6.81%, the highest since February, according to Mortgage Bankers Association data released Wednesday. Rates on adjustable and 15-year fixed mortgages also climbed.