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US Mortgage Rates Hit New High
US mortgage rates have reached a new peak, increasing for the seventh consecutive week. According to Freddie Mac, the average rate for a 30-year fixed mortgage has climbed to 7.4%, marking the highest level since November 2023. This rate is 7.4% compared to 7.28% the previous week and 6.3% a year ago. Analyst Bessent anticipates that conditions are likely to stabilize in the near future.