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Mortgage Rates Fall After Three-Week Ascent

Friday, Jun 09 2023
Lending
Written by  The Mortgage Leader

After three weeks of rising ever closer to 7%, U.S. long-term mortgage rates have pulled back, faced with mixed signals on the economy. So reports CNN.

arrow 98577 1280According to Freddie Mac, the average on the 30-year fixed-rate mortgage was 6.71% in the week ending June, versus 6.79% the previous week and 5.23% a year before.

Freddie Mac’s chief economist, Sam Khater, cited a lack of housing inventory as “the biggest obstacle” for would-be buyers.

Read the full article from CNN.

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