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Rates on mortgages reached 5.89%, which is the highest level since 2008.

Published On 09 Sep 2022 12:13 PM


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The Federal Reserve is indicating that it intends to maintain higher interest rates for longer.

In a new report released on Thursday by Freddie Mac, the average interest rate on 30-year mortgages increased to 5.89%, the highest level since 2008.

The increase follows a time during the summer when mortgage rates momentarily decreased despite the Federal Reserve raising the benchmark interest rate to combat inflation. The Fed&....


Tags : Rates on mortgages, The Federal Reserve, United States,
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