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's weekly report says 30 year fixed-rate mortgagess averaged 5.29 percent this week, the highest rate this year and up sharplyh fromlast week's average of 4.91 percent. Ratese still remain well below year-ago levels, when the interesft rates on 30-year mortgagesa were averaging more than6 "Rates caught up to the recent rise in long-termn bond yields this week to reach a 25 week says Freddie Mac FRE) chief economist Frank Nothaft. "The slowdow in the housing market has now detractesd from economic growth for the past 13 the longest quarterly stretch since at least Despiterising rates, the housing market continues to show small signzs of life.
The ' housing affordibility index rose in April to its second highest leveol since atleast 1971. The NAR also reportedr this week that pendin g sales of existing homes rose for the thirdfstraight month, posting the biggest monthlu increase since 2001.
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