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updated: 3/13/2014 10:10 AM

Average U.S. 30-year mortgage rate up to 4.37 pct.

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  • A home is for sale in Glenview. Average U.S. rates on fixed mortgages rose last week but remained close to historically low levels.

      A home is for sale in Glenview. Average U.S. rates on fixed mortgages rose last week but remained close to historically low levels.
    Associated Press

 
Associated Press

Average U.S. rates on fixed mortgages rose last week but remained close to historically low levels.

Mortgage buyer Freddie Mac says the average rate for the 30-year loan increased to 4.37 percent from 4.28 percent last week. The average for the 15-year mortgage rose to 3.38 percent from 3.32 percent.

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Mortgage rates have risen about a full percentage point since hitting record lows roughly a year ago.

The increase was driven by speculation that the Federal Reserve would reduce its $85 billion-a-month bond purchases, which have helped keep long-term interest rates low. Deeming the economy to be gaining strength, the Fed announced in December and January that it was reducing its monthly bond purchases.

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