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June 28, 2013

Loan rate jump pushes people off the fence

AP Business Writers

WASHINGTON — U.S. mortgage rates have suddenly jumped from near-record lows and are adding thousands of dollars to the cost of buying a home.

The average rate on the 30-year fixed loan soared this week to 4.46 percent, according to a report Thursday from mortgage buyer Freddie Mac. That's the highest average in two years and a full point more than a month ago.

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