Average long-term US mortgage rate rises to highest level in nearly 3 years
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AI-Generated Claims
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Mortgage rates hit 7.4 percent for first time since November 2023 - The Hill.
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Mortgage rates hit 7.4 percent for first time since November 2023 The HillHighest Mortgage Rates in 3 Years Chills the Housing Market
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US 30-year fixed-rate mortgage rate hits 7.40%, likely to further erode housing demand
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Mortgage rates rise for seventh straight week, squeezing homebuyers Fox BusinessHighest Mortgage Rates in 3 Years Chills the Housing Market
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What to consider with rising mortgage rates 6abc PhiladelphiaUS 30-year fixed-rate mortgage rate hits 7.40%, likely to further erode housing demand ReutersRefinance demand is now half what it was a year ago, as mortgage rates rise again
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Average long-term US mortgage rate rises to highest level in nearly 3 years.
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The average rate on a 30-year fixed mortgage rose this week to 7.4%, according to the latest Freddie Mac data released Thursday.
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That is up from last week's reading of 7.28%.
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Summary
The average long-term US mortgage rate has risen to its highest level in nearly three years, likely to further erode housing demand.
Why It Matters
This increase in mortgage rates could lead to a decrease in homebuying activity and potentially lower overall housing market growth.
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