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The 30-Year Fixed-Rate Mortgage Reaches its Highest Level in Over Twenty Years

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The 30-Year Fixed-Rate Mortgage Reaches its Highest Level in Over Twenty Years

by

August 17, 2023
The economy continues to do better than expected and the 10-year Treasury yield has moved up, causing mortgage rates to climb. The last time the 30-year fixed-rate mortgage exceeded seven percent was last November. Demand has been impacted by affordability headwinds, but low inventory remains the root cause of stalling home sales.

Information provided by Freddie Mac.

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