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Mortgage rates jump above 3%, creating pressure for home buyers


Mortgage rates rose above 3% for the first time since the beginning of July — and home buyers could feel the crunch.

The 30-year fixed-rate mortgage averaged 3.01% for the week ending Sept. 30, up 23 basis points from the previous week, Freddie Mac FMCC reported this week. A year ago, the 30-year fixed-rate mortgage was averaging 2.88%.


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