Mortgage rates jumped in the week ending April 8 in response to last week's late week sell-off in Treasurys related to a better than expected ISM Manufacturing on Thursday, and especially the March employment report on Friday that showed strong private jobs growth.

Freddie Mac reported that both 30- and 15-year fixed mortgage rates surged 13 basis points to 5.21% and 4.52%, respectively. The 30-year fixed rates are at their highest since the week ending August 13, 2009 when it averaged 5.29%.

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