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Mortgage rates move up


Mortgage rates jumped up significantly over the past week, Freddie Mac reported.

Through Wednesday, the 30-year fixed rate averaged 3.96 percent, up eight basis points from the prior week and the biggest weekly jump since March.

A year ago, the rate averaged 3.41 percent. Other key rates also rose.

"Global interest rates turned up sharply over the last week,” said Sean Becketti, chief economist at Freddie Mac. “The 10-year Treasury yield was no exception, increasing 10 basis points in a holiday-shortened week.” 


 

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