Mortgage rates jump sharply higher, after easing for four straight weeks. Here's why

Mortgage rates jumped sharply higher following a hotter-than-expected inflation report, ending a four-week stretch of declines. The move higher in rates came as bond yields rose on the inflation data, which signaled persistent price pressures to investors. The reversal matters because it threatens to cool housing demand just as the spring selling season gets underway. Rates had eased for four straight weeks before the sudden spike. What to watch next is whether the inflation reading proves a one-month anomaly or marks the start of a sustained upward move in borrowing costs.