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Benzinga
Benzinga
Business
AJ Fabino

Housing Activity 'Took A Nosedive' As Mortgage Rates Hit 15-Year Highs - A Chart That Says It All

Mortgage rates are at their highest point since the Great Recession as housing affordability continues to decline, according to Freddie Mac (OTC:FMCC) data.

The 30-year fixed increased from 5.66% to 5.89%. The long-term rate hasn't been this high since November 2008, shortly after the Great Recession was triggered by the collapse of the housing market.

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