"WASHINGTON (AP) -- Rates on 30-year home loans surged above 5 percent for the first time in nearly three months this week as investors pushed up rates on long-term government debt, which is closely tied to mortgage rates."

....

"The jump in rates came after the yield on the benchmark 10-year Treasury note, a barometer for interest rates on mortgages and other loans, jumped last week to a six-month high of 3.75 percent. But yields on long-term Treasury debt have since edged back downward following lackluster economic reports.

While signs are building that the battered U.S. housing market is beginning to stabilize, higher rates could endanger any recovery, since borrowers would be able to borrow less money and might decide to hold off on their purchases."

http://finance.yahoo.com/news/Mortga... =