Rise in mortgage rates defies expectations as unusually wide 'spread' between 10-year Treasury yields and mortgages reflects investor fears of another refi wave
50 basis points 'is still a historically large increase and we still have some ways to go,' Fed Chairman Jerome Powell warns after policymakers wrap up final meeting of the year
Mortgage investors have been demanding higher yields because of fears of prepayment risk if the loans they're funding now are refinanced when rates fall