Mortgage rates top 7% for the first time since April 2002
Mortgage rates surpassed 7% for the first time since April 2002. The rate on the average 30-year fixed mortgage hit 7.08%, up from 6.94% the week prior.
Demand for mortgages remained at its lowest point in 25 years last week with another heavy rate hike expected at the Federal Reserve meeting next week.
Demand for mortgages remained at its lowest point in 25 years last week with another heavy rate hike expected at the Federal Reserve meeting next week.
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