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Mortgage demand drops for the first time in 5 weeks, after interest rates rise

Summary by Fox Business
Mortgage rates climbed this week, sending overall demand lower as more Americans balked at refinancing.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage jumped to 6.72%, up from last week's reading of 6.6%. The average rate on a 30-year loan was 6.67% a year ago."This week, mortgage rates crept up to a similar average as this time in 2023," said Sam Khater…
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