Credit crisis moves beyond banks

Commentary: Market relief may cause rates to rise, but it's worth the pain

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At the worst of Thursday, the lowest-fee, 30-year fixed-rate mortgages touched 6.25 percent (yes, that’s a “six”).

The jump is a technical affair likely to reverse, and certainly not a sign of economic recovery. Long-term rates had been in the same place for four weeks, with the bond market running out of buyers at near-record lows and overdue for counter-move.