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Higher Than Ever

The average rate on a 30-year fixed-rate mortgage grew this week to 3.87 percent. On pending existing home sales, they are up 4.1 percent from a year ago, making it the highest year-over-year gain since August 2013, according to Washington Business Journal. For the median downpayment in 2014, it ranged from 6 percent for first-time homebuyers to 13 percent for repeat buyers. [WBJ]