Oil price shock pushes mortgage rates back to 6%

Mortgage lenders left their desks Friday with the 30-year fixed finally below 6%. When they returned Monday morning, the market was in turmoil, with the benchmark 10-year Treasury at one point up 11 basis points from the previous close.

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As a result, the 30-year fixed rate mortgage moved up 2 basis points this week above 6%, a number many consider to be a psychological barrier…