The 30-year mortgage rate averaged 7.63% as of October 19, up from 7.57% a week earlier and 6.94% in the year-ago period, according to Freddie Mac.
Two years ago, the average rate was only 3.09%.
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Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.
Estimated reading time: 0 minutes, 18 seconds
Mortgage Rates Rise for Sixth Straight Week, Nearing 8%
U.S. long-term mortgage rates have risen for a sixth consecutive week as they remain at their highest since December 2000. So reports the Associated Press.
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