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Mortgage Rates Hold Above 7% for Fifth Straight Week

U.S. long-term mortgage rates have remained above 7% for five consecutive weeks amid ongoing inflation concerns. So reports CNN.

arrow 2790272 640 150x150According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.18% as of September 14, up from 7.12% a week earlier and 6.02% a year before.

Freddie Mac’s chief economist, Sam Khater, cited a robust economy and resurgent inflation.

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