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Economic Report: Mortgage rates advance for fourth straight week

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A home is offered for sale in the Bucktown neighborhood on September 21, 2015 in Chicago.

Mortgage rates advanced for the fourth straight week, as the market begins to price in a more aggressive Federal Reserve and burgeoning inflation pressures.

Freddie Mac said the 30-year fixed-rate mortgage averaged 4.22% in the week ending Feb. 1, up from 4.15%. A year ago, the benchmark mortgage averaged 4.19%.

The 30-year mortgage has climbed by more than a quarter-point just in 2018.

The 15-year fixed-rate mortgage averaged 3.68%, up from 3.62%, and the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.53%, up from 3.52%.

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