Mortgage Rates Ticking Up to 7 Percent
By Naveen Athrappully Mortgage rates are closing in on the 7 percent level following a dip to nearly 6 percent a few weeks back, signaling further challenges for the American housing market. The average rate on a 30-year fixed-year mortgage was 6.84 percent for the week ending Nov. 21, according to data from Freddie Mac. The rate is up from a low of 6.08 percent in late September and is…
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