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Pressures rise for homebuilders as rates hit 7-year high

Homebuilders took a beating Thursday as rising interest rates and home prices discourage potential buyers. Mortgage buyer Freddie Mac said Thursday that the average rates on 30-year, fixed rate mortgages hit 4.94 percent, a 7-year high. The average rate a year ago was 3.9 percent. Also Thursday, builder D.R. Horton said home deliveries in the first quarter ...

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