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Mortgage Rates Rebound Slightly Amid Economic Crosscurrents

U.S. long-term mortgage rates have recovered modestly in the face of cooling inflation and uncertainty around debt-ceiling negotiations. So reports CNN.

Freddie Mac 150x150According to Freddie Mac, the average on the 30-year fixed-rate mortgage was 6.39% in the week ending May 18, versus 6.35% the prior week and 5.25% a year earlier.

Rates had declined for the last two weeks and have remained below 6.5% for the past month.

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