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Fannie & Freddie fallout: Mortgage rates hit 5-year high
blogs.moneycentral.msn.com — Here's bad news for people shopping for a house or looking to refinance an adjustable-rate or interest-only mortgage: The average mortgage rate just reached a five-year high. The rate on Tuesday for a 30-year fixed-rate mortgage was 6.71%. It's not crazy high by a long shot, but it's more than people have been accustomed to paying in recent years.
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