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US mortgage rates climb to 4-year high

US mortgage rates climb to 4-year high

Higher mortgage rates appear to be weighing on home sales, since buyers are facing higher borrowing costs. Home purchases slumped 3.2 percent from December to January, according to the National Association of Realtors. On a yearly basis, home sales have fallen 4.8 percent, the sharpest annual decline since August 2014.

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