NEW YORK -- Rates on fixed mortgages rose for the fourth straight week this week. The surge could slow refinancings and further hamper the housing market.
Freddie Mac said Thursday that the average rates on 15- and 30-year fixed loans increased sharply from last week. Mortgage rates tend to track the yields on 10-year Treasury bonds. Those yields have been rising as investors anticipate Congress will extend the Bush-era tax cuts for two years and long-term unemployment benefits for 13 months.