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News Summary: Rate on 30-year loan stays 4.57 pct.

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The Associated Press | September 12, 2013 11:48 AM EST | AP


RATES STEADY: Average U.S. rates on fixed mortgages held steady this week but could change quickly next week when the Federal Reserve addresses its bond purchase program.

THE NUMBERS: Mortgage buyer Freddie Mac says the average on the 30-year loan stayed at 4.57 percent, just below the two-year high of 4.58 percent reached Aug. 22. The average on the 15-year fixed loan held at 3.59 percent.

AWAITING FED: Rates have risen more than a full percentage point since May, when Chairman Ben Bernanke signaled the Fed may reduce its bond purchases later this year. The bond purchases have kept long-term rates extremely low.