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The Independent UK
The Independent UK
National
Io Dodds

US mortgage rates soar to highest level in 11 years

Jim Lo Scalzo/EPA

Interest rates for 30-year mortgages in the United States have risen to the highest point in a decade, data shows.

Statistics, published by the government-backed mortgage company Freddie Mac last week, revealed the average rate for low-risk, fixed-rate home purchase loans hit 5 per cent in the week ending 14th April.

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