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Freddie Mac

US mortgage rates rise, though remain historically low

U.S. mortgage rates rose this week as the economy showed signs of strength, which makes it more likely that the Federal Reserve will raise its short-term rate next week.

The rate on the benchmark 30-year fixed-rate mortgage rose to 3.94 percent from 3.9 percent last week, mortgage giant Freddie Mac said. The 15-year, fixed-rate mortgage, popular among homeowners seeking to refinance, also increased, rising to 3.36 percent from 3.3 percent.

The five-year adjustable mortgage rate rose for the third straight week to 3.35 percent from 3.32 percent last week.

Shorter-term rates are rising more quickly than longer-term debt, and the gap between the 30-year mortgage and...

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