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Mortgage Rates Hit 9-Month High, Freezing Out Homebuyers In Peak Season
Mortgage Rates Hit 9-Month High, Freezing Out Homebuyers In Peak Season
The average rate on a 30-year fixed mortgage climbed to its highest level since August, threatening to derail the spring selling season as higher Treasury yields and renewed inflation pressure push loan costs higher and freeze more prospective buyers out of the market.
Freddie Mac data released Thursday show the 30-year fixed mortgage rate for the week ending May 21 jumped to 6.51% from 6.36%, the highest rate since Aug. 28, 2025.
Soaring mortgage rates stem from turmoil in the Gulf...
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