Economy screams, real estate rates climb

Home-price slowdown could make big splash

Long-term rates rose last week as healthy economic data undermined ghoulish bond-market hopes for an economic downturn.

The 10-year T-note could not hold its pre-Thanksgiving rally to 4.4 percent and is now back above 4.5 percent; that trade eliminated the chance for mortgage decline toward 6 percent. Fixed 30-year deals are now back at the 2005 high, 6.375 percent.

Despite these retracements, the “topping” pattern in long-term rates is still in place.