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Mortgage rates climb to highest level in more than 3 months as Iran war reignites inflation fears
- On Thursday, Freddie Mac reported the average 30-year fixed mortgage rate rose to 6.22% from 6.11% last week, marking the highest level in nearly four months.
- Rising energy prices linked to the conflict with Iran have lifted inflation expectations, rattling financial markets and pushing yields higher over the past three weeks.
- The Federal Reserve voted Wednesday to leave its benchmark rate at 3.5% to 3.75%, while the 10-year Treasury yield hovered around 4.27% on Thursday afternoon.
- Realtor.com senior economist Anthony Smith noted moderating inflation at 2.4% would typically support lower costs, yet mortgage applications fell 10% last week, the Mortgage Bankers Association reported.
- Fed Chair Jerome Powell stated the current 3.5% to 3.75% range is within neutral territory but added it is "too soon to tell" how Middle East conflicts will affect the economy.
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Mortgage rates were falling in time for the spring buying season. Now they’re at a three-month high
The average long-term U.S. mortgage rate climbed this week to its highest level in more than three months, a setback for prospective home shoppers this spring homebuying season.
·Portland, United States
Read Full ArticleMortgage rates jump to highest level in nearly 4 months
Mortgage rates jumped this week to the highest level in nearly four months, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.22% from last week's reading of 6.11%. The average rate on a 30-year loan was 6.67% a year ago."The 30-year fixed-rate mortgage edged up this week to 6.22% but remains nearly half a perc…
·United States
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Total News Sources43
Leaning Left6Leaning Right5Center23Last UpdatedBias Distribution68% Center
Bias Distribution
- 68% of the sources are Center
68% Center
L 17%
C 68%
15%
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