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Federal Reserve Latest News: Rise in Mortgage Rates Cut Into Homebuyer Demand Last Week

Wochit 0:42 mins

Expectations the Federal Reserve will slow its economic stimulus program by the end of the year continued to push mortgage rates higher last week, sapping demand from potential homebuyers US stocks advanced ahead of a major Fed speech with Traders continuing to press on with their buy orders in the third quarter. Wall Street opened higher as investors awaited clarification on the Federal Reserve's stimulus plans and the release of data providing snapshots on the economy.

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