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The National Association of Realtors (NAR), reports that the index of purchase agreements for current occupied homes rose 2% in December from November. The index also posted a 3.1% increase in November from October, making the last 2 months of 2010 brisk for existing home sales nationwide.

On Thursday, January 27th, Freddie Mac said the average home purchase interest rate rose to 4.80% this week; up from 4.74% the week of January 20th. The average rate on 15-year loans, a popular refinance option, inched up to 4.09% from 4.05%.