Mortgage rates, already increasing at the fastest pace in a decade, are poised to rise even further after Federal Reserve Chairman Ben Bernanke said the central bank is ready to slow its bond-buying program, Bloomberg writes.

Yields on Fannie Mae’s 3.5%, 30-year securities soared 0.3 percentage point yesterday to a 14-month high of 3% as their price tumbled 1.3 cents to 102 cents on the dollar, the most since 2010.