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Mortgage rates jump to their highest level in a year

MarketWatch says the Federal Reserve held its benchmark rate steady, but political and economic developments are lifting borrowing costs for homebuyers.

Reported · Written up by our desk · Economy

Mortgage rates rose to their highest level in a year, according to MarketWatch.

The outlet said the Federal Reserve kept its benchmark interest rate steady on Wednesday, but political and economic developments have been pushing mortgage rates higher.

MarketWatch also noted that there are few signs the upward move is likely to ease soon.

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