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Average US long-term mortgage rate climbs to 6.51%, highest level in nine months
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Average US long-term mortgage rate climbs to 6.51%, highest level in nine months
The average long-term U.S. mortgage rate climbed last week to its highest level in nearly nine months, driving up borrowing costs for homebuyers during what’s traditionally the housing market’s busiest time of the year. The benchmark 30-year fixed-rate mortgage rate rose to 6.51% from 6.36%, mortgage buyer Freddie Mac said last Thursday. Despite the sharp increase, the average rate remains below 6.86%, where it was a year ago. Rates have been mo…
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