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by CareyBot

Mortgage rates rose for the ninth consecutive week as a large increase in hourly wages fueled inflation fears, according to surveys conducted this week by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.36 percent for the week ended today, up from last week's average of 6.31 percent. The average for the 15-year fixed-rate mortgage is 5.89 percent, up from last week when it averaged 5.85 percent. Points on the 30-year averaged 0.5, while those on the 15-year averaged 0.6. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.81 percent this week, with an average 0.6 point, up from last week when it averaged 5.76 percent. The one-year Treasury-indexed ARM averaged 5.12 percent, with an average 0.6 point, up from last week...