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US mortgage rates reach highest levels in over 20 years

US mortgage rates hit the highest level in 20 years.The average mortgage rate increased to 7.09% as reported by Freddie Mac.A year ago the rate was around 5%.The Federal Reserve's high-rate policies have most directly impacted the housing market, causing a decline in refinancing and purchase activity.This decline has negatively affected mortgage lenders, resulting in numerous layoffs in the industry and a drag on economic growth.Mortgage rates are mostly influenced by the 10-year Treasury yield... Read More

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Content Topics

Mortgage

Rates

Reach

Highest

Levels

Over

Years

Forex

Posted: Aug 17 2023, 17:57

Author Name: forexlive

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