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Mortgage Rates Increase for the Fourth Consecutive Week

February 29, 2024 by Jim Callahan

February 29, 2024
Mortgage rates continued their ascent this week, reaching a two-month high and flirting with seven percent yet again. The recent boomerang in rates has dampened already tentative homebuyer momentum approaching the spring, a historically busy season for homebuying. While sales of newly built homes are trending in a positive direction, higher rates and elevated prices continue to pose affordability challenges that may leave potential homebuyers on the sidelines.

Information provided by Freddie Mac.

Filed Under: Interest Rates

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