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Economic Report: Mortgage rates surge to 10-week high but a dovish Fed may quash that move

Rates for home loans jumped in the latest week following a smaller rise in U.S. Treasury yields, mortgage provider Freddie Mac said Thursday, yet they remain pinned below the closely watched 4% threshold.

The 30-year fixed-rate mortgage averaged 3.91% in the Oct. 12 week, while the 15-year fixed-rate mortgage averaged 3.21%. Both products rose six basis points during the week. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.16%, versus 3.18% during the prior week.

Mortgage rates fell below the key 4% line in early J…
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