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MORTGAGE RATES HIGHER IN WEEK

Mortgage rates around the country edged up this week as inflation fears spooked financial markets.

The average interest rate on 30-year fixed-rate mortgages rose to 7.12 percent, up from 7.01 percent last week, according to a nationwide survey released Thursday by Freddie Mac, the mortgage company.

Fifteen-year mortgages, a popular option for refinancing, rose to 6.69 percent last week, up from 6.61 percent the previous week.

On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 6.43 percent, compared with 6.40 percent the week before.

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