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Rising Mortgage Rates Persist Amidst High Demand and Home Prices

1 min read
Source: Investopedia
TL;DR

Rates on 30-year mortgages have risen for the fifth consecutive day, with the 30-year fixed-rate average now at 7.19%. The 15-year fixed-rate average also increased, while jumbo loan averages remained flat. Refinancing rates moved in line with new purchase rates. Mortgage rates have experienced significant fluctuations in recent months, reaching a 20-year high in October 2022. The factors influencing mortgage rates include the bond market, Federal Reserve policy, and competition among lenders.

Topics:businessfinance#30-year-fixed-rate#finance#interest-rates#jumbo-loans#mortgage-rates#refinancing
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