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Mortgage

US Long-Term Mortgage Rates up for Week; 30-year 4.20%

U.S. long-term mortgage rates rose this week for the fourth consecutive week, even although they remain historically low as a urge to home earnings in the spring buying season.

Mortgage buyer Freddie Mac says the average rate in the 30-year, fixed-rate mortgage increased to 4.20% from 4.17% a week. By contrast, a year past the benchmark rate stood at 4.58%.

The ordinary rate for 15-year, fixed-rate home loans rose per week to 3.64percent from 3.62% a week.

After peaking at almost 5% in November, long-term rates began trending downward, helping to boost home sales after a rugged 2018.

By Frank Simtson

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