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Mortgage rates rise

WASHINGTON, Jan. 25 (UPI) -- Freddie Mac on Friday reported that long-term mortgage rates rose during the latest reporting week but still expects rates to hover around 7 percent to 7.25 percent as the economy heads into recovery. Freddie Mac said the average rate on the 30-year loan to homebuyers rose to 6.96 percent from 6.83 percent last week.

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