Mortgage rates climb toward 7% after America’s credit rating was downgraded

Mortgage rates climb toward 7% after America’s credit rating was downgraded

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US mortgage rates jumped this week, climbing closer to 7%. The move follows last week’s rate hike from the Federal Reserve, and the downgrade this week by Fitch Ratings agency of US sovereign debt, and of Freddie Mac and Fannie Mae. The 30-year fixed-rate mortgage averaged 6.90% in the week ending…

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