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Mortgage rates hit nearly 1-year high

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Mortgage rates rose last week to a nearly one-year high.

The average contract interest rate for 30-year fixed-rate mortgages rose to nearly 6.7% from 6.6% last week. Those mortgages have conforming loan balances of $832,750 or less.

Homebuyer demand reportedly pulled back.

Read more from CNBC.

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