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April 19, 2018

Road to homeownership gets rockier as rates rise

By ALEX VEIGA
AP Business Writer

LOS ANGELES — Higher mortgage rates are making the already challenging task of buying an affordable home even tougher for many Americans this spring.

In metro areas such as Denver, buyers are rushing to close a deal before mortgage rates get too high. In Dallas, some are embracing longer commutes to find homes they can afford. And in places such as Los Angeles, where the number of homes for sale is down sharply from a year ago, sellers routinely receive multiple offers.


 
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