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Mortgage Rates Post Huge Increase: Bankrate 

Oct 16, 2008By

Mortgage rates soared this week, with the average 30-year fixed mortgage rate jumping more than one-half percentage point to 6.74 percent according to a weekly survey by Bankrate.com. The jump of 54 basis points in the largest weekly increase in rates in over two decades, the financial web site said in a press statement.

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