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Mortgage rates hit highest level in a year

The average 30-year fixed mortgage rate rose to 6.66%, the highest level in a year, as inflation worries, oil prices and signals from the Federal Reserve pushed borrowing costs higher. The increase adds pressure to a sluggish housing market marked by high prices and weak sales.

UEFA threatens FIFA boycott over World Cup investment plan

UEFA says European national teams will boycott FIFA competitions unless FIFA abandons a plan to sell a minority stake in the commercial side of the World Cup and other tournaments. FIFA says the proposed $20 billion company would help fund global soccer development while leaving governance in its hands.

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