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Mortgage Rates Touch Fresh 14-Year High

U.S. long-term mortgage rates have climbed to their highest point since 2008. So reports CNN.

arrow up iconAccording to Freddie Mac, the 30-year-fixed rate average rose 23 basis points to 5.89% in the week ending September 8. At the same time last year, the figure was just 2.88%.

“Mortgage rates rose again as markets continue to manage the prospect of more aggressive monetary policy to combat elevated inflation,” Freddie Mac economist Sam Khater said in a statement.

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