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Mortgage rates rise again, challenging housing market

Added 09-19-22 10:04:04am EST - “Mortgage rates topped 6% last week as economic indicators showed that consumers are still paying high prices for goods, Freddie Mac said.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Mortgage rates rise again, challenging housing market”. Below is an excerpt from the article.

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Rates for the 30-year mortgage continued to climb last week following the most recent inflation reading, Freddie Mac said. (iStock)

Rates for the 30-year mortgage passed the 6% mark for the first time in 14 years last week as worse-than-anticipated inflation indicators hit the market, Freddie Mac said.

The average rate for a 30-year fixed-rate mortgage increased to 6.02% for the week ending Sept. 15, according to Freddie Mac's Primary Mortgage Market Survey. This is an increase from the week before when it averaged 5.89% and is significantly higher than this time last year when it was 2.87%.

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