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Inflation concerns drive 30-year mortgage rates up to 6.45 percent

WASHINGTON, D.C. (AP) - Rates on 30-year mortgages rose again last week, climbing to the highest level in more than nine months, reflecting more concerns about how the Federal Reserve will respond to higher inflation pressures.

Freddie Mac, the mortgage company, reported Thursday that 30- year fixed-rate mortgages averaged 6.45 percent last week. That was up from 6.42 percent the previous week.

It was the highest level for 30-year mortgages since they averaged 6.46 percent for the week of Sept. 9. It marked the fifth consecutive weekly increase and the fifth week that they have been above 6 percent.

Frank Nothaft, chief economist at Freddie Mac, said financial markets are uncertain about ...

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