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Mortgage Rates for U.S. Loans Jump to Five-Month High

U.S. mortgage rates surged to a five-month high, tracking a jump in bond yields after President Barack Obama agreed to extend tax cuts for two years.

The average rate for a 30-year fixed loan increased to 4.61 percent in the week ended today from 4.46 percent, the fourth week of gains, Freddie Mac said in a statement. The average 15-year rate climbed to 3.96 percent from 3.81 percent, according to the McLean, Virginia-based mortgage-finance company.