Mortgage rates bounce back

Home loans expected to remain affordable in the long term

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Mortgage rates were up sharply this week, bouncing back from record lows following the release of a better-than-expected jobs report, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.

While forecasters expect rates on 30-year fixed-rate mortgages will stay well below 5 percent through 2012, strong economic growth could trigger a faster rise in long-term interest rates, including mortgages.