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Freddie Mac: 30-year mortgage rate jumps to 4.23 percent from 4.12 percent last week

Mortgage rates rose this week at the fastest pace of the year, with Freddie Mac's survey showing lenders were offering 30-year fixed-rate loans at an average of 4.23 percent, up from 4.12 percent last week. It was the highest rate that the weekly survey has recorded since May 1, Freddie Mac reported. The average for a 15-year fixed-rate loan rose to 3.37 percent from 3.26 percent, according to the survey, released Thursday. The start rate for mortgages that become adjustable after five years at a fixed rate rose to 3.06 percent from 2.99 percent. Translated into the terms borrowers actually receive, the increase would mean a loan at 4.25 percent interest per year instead of 4.125 ...

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