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Higher mortgage rates continue to impact Alabama home sales

Summary by Ground News
The Alabama Association of Realtors released a new report, which shows a slowdown in home sales activity in August 2023. The 30-year fixed mortgage rate peaked at 7.23% in August, its highest value in more than 20 years. With mortgage rates surpassing the 7% mark throughout August, it is not surprising that we are continuing to experience a dip in sales compared to previous months.
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