Mortgage rates continue to climb, reach highest level since 2000
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(Worthy News) – Mortgage rates are pushing even higher this week and are now clocking in at their highest level since the turn of the century.
As of Monday, the average rate on a 30-year, fixed-rate mortgage had soared to 7.48%, more than double the average before the Federal Reserve started raising interest rates, according to Mortgage News Daily. The last time rates were this high was in November 2000.
That marks a nearly half-percentage-point increase in just the past month alone, with a sizable chunk coming in the past week. [ Source: Washington Examiner (Read More…) ]
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