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The Piney Point

Struggling US homebuyers, and market, face new hurdles as mortgage rates climb to nearly 7%

Struggling US homebuyers, and market, face new hurdles as mortgage rates climb to nearly 7%
Photo: KPRC 2 / Click2Houston (NBC) · view original

Mortgage rates climbed for the fourth week in a row, driving the average long-term U.S. home loan rate to just below 7%, its highest level in over 19 months. The benchmark 30-year fixed rate mortgage rate rose to 6.95% from 6.76% last week, mortgage buyer Freddie Mac said Thursday. One year ago,...

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