UPDATE 1-U.S. 30-year mortgage rates reach 16-month high

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NEW YORK, Nov 23 (Reuters) - The average interest rate on

U.S. 30-year fixed-rate mortgages rose above 4 percent to a

16-month high, in step with rising U.S. government bond yields,

mortgage finance agency Freddie Mac said on Wednesday.

The borrowing cost on 30-year mortgages, the most widely

held type of U.S. home loan, averaged 4.03 percent in the week

ended Nov. 23, which was the highest since 4.04 percent in the

week of July 23, 2015. Last week, 30-year mortg

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