U.S. Mortgage Rates Top 7% For The First Time In 2 Decades

U.S. Mortgage Rates Top 7% For The First Time In 2 Decades

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Watch VideoThe average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve's aggressive rate hikes intended to tame inflation not seen in some 40 years.

Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate jumped to...

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