Mortgage Rates Jump For Seventh Straight Week to 7.40%; Highest Rate in 35 Months

Mortgage Rates Jump For Seventh Straight Week to 7.40%; Highest Rate in 35 Months

What happened to mortgage rates this week? The Freddie Mac 30-year fixed-rate mortgage rose for the seventh consecutive week, up 12 basis points to 7.40%. Rates are now a full 110 basis points higher than they were last year at this time, which was 6.30%. This increase comes amid continued upward pressure from the 10-year
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