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U.S. Mortgage Rates Rise as Fed Plans to Taper Stimulus

U.S. mortgage rates rose, increasing borrowing costs for homebuyers as the Federal Reserve said it will scale back bond purchases that have supported the real estate market.

The average rate for a 30-year fixed mortgage was 4.47 percent this week, up from 4.42 percent, according to a statement today from Freddie Mac. The average 15-year rate rose to 3.51 percent from 3.43 percent, the McLean, Virginia-based mortgage-finance company said.