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MORTGAGE RATES CLIMB HIGHER

Rates on 30-year mortgages climbed this week to their highest point in eight months, hovering just above the 6 percent mark.

In its weekly nationwide survey, mortgage giant Freddie Mac reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.04 percent, up from 6.01 percent last week.

Rates on 15-year, fixed-rate mortgages, a popular option for refinancing, rose to 5.58 percent this week, up from 5.56 percent last week.

Rates on one-year adjustable-rate mortgages increased to 4.33 percent this week, compared with 4.24 percent last week.

Five-year hybrid adjustable rate mortgages averaged 5.43 percent this week, up from 5.35 percent last week. These hybrid mortgages have a fixed-rate for five years and then adjust each year after that.

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