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December 2, 2016

Mortgage rate rises to 4.08 percent

WASHINGTON (AP) — Long-term U.S. mortgage rates marked a fifth week of surges in the aftermath of Donald Trump's election win, reaching their highest levels this year.

Mortgage giant Freddie Mac says the average rate on a 30-year fixed rate loan rose to 4.08 percent from 4.03 percent the previous week. The benchmark rate topped its 3.93 percent level of a year ago.


 
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