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After climbing to a 23-year high of 7.79% in October, the average rate on a 30-year mortgage has remained below 7% since early December, though it also hasn’t gone below the 6.6% it averaged in mid January.
Mortgage rates will likely continue to hover between that 6.6% and 7% range until inflation shows convincing progress towards the Fed’s target, said Hannah Jones, Realtor.com’s senior economic research analyst.
Mortgage rates will likely continue to hover between that 6.6% and 7% range until inflation shows convincing progress towards the Fed’s target, said Hannah Jones, Realtor.com’s senior economic research analyst.
MSN
Posted from msn.comPosted in these groups: Mortgage
Posted 18 d ago
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18 d
Considering that my mortgage rate was 2.25% in 2020, the mortgage rates are very high now. The difference between a 2.25% and 7% is over 700.00 a month.
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