Mortgage rates top 7% for the first time since April 2002
Mortgage rates surpassed 7% for the first time since April 2002. The rate on the average 30-year fixed mortgage hit 7.08%, up from 6.94% the week prior.
Demand for mortgages remained at its lowest point in 25 years last week with another heavy rate hike expected at the Federal Reserve meeting next week.![]()
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Demand for mortgages remained at its lowest point in 25 years last week with another heavy rate hike expected at the Federal Reserve meeting next week.
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