US Mortgage Rates Rise to 5.78 Percent After Fed Rate Hike, in Biggest Jump Since 1987

A real estate "For Sale" sign hangs on the front of new townhomes in Centerville, Virginia on March 14, 2007. Paul J. Richards/AFP via Getty Images

U.S. mortgage rates jumped to 5.78 percent in the largest one-week increase since 1987, reported Freddie Mac on June 16, after the Federal Reserve hiked interest rates the day prior, adding further pressure on homebuyers and slowing down the already weak housing market.