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Rate on 30-year mortgage at 2-year high: 4.51 pct.

WASHINGTON — The average US rate on the 30-year fixed mortgage rose this week to 4.51 percent, a two-year high. Rates have been rising on expectations the Federal Reserve will slow its bond purchases this year.

Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan jumped from 4.29 percent the previous week. Two months ago, it was 3.35 percent — barely above the record low of 3.31 percent.

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The average on the 15-year fixed mortgage rose to 3.53 percent from 3.39 percent last week — the highest since August 2011.

Chairman Ben Bernanke has said the Fed could slow its bond purchases this year if the economy strengthens. The purchases have kept rates low. The yield on the 10-year Treasury, which mortgage rates typically track, has been rising. Still, mortgage rates are low by historical standards. Low rates have helped fuel a housing recovery. The annual sales pace of previously occupied homes topped 5 million in May for the first time in 3½ years. Sales of new homes rose at the fastest pace in five years.

To calculate average mortgage rates, Freddie Mac surveys lenders on Monday through Wednesday each week. The average doesn’t include extra fees, known as points, most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage was 0.8 point this week, up from 0.7 point last week. The fee for a 15-year loan also rose to 0.8 point from 0.7 point.

The average rate on a one-year adjustable-rate mortgage was unchanged at 2.66 percent. The fee rose to 0.5 point from 0.4.

The average rate on a five-year adjustable mortgage rose to 3.26 percent from 3.10 percent. The fee was unchanged at 0.7 point.

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