The week in real estate rates

Bond market, Fed hikes paint picture of possible recession

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Mortgage rates stayed at their 2005 highs, just below 6.5 percent for the lowest-fee 30-year loans, but trading in the all-important Treasury bond market suggests that long-term rates may be nearing a top.

There were no market-moving economic data last week, but the Treasury had $44 billion in new bonds to sell at auction and the behavior of the bidders tells a tale.