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Benzinga
Benzinga
Business
Phil Hall

Housing Beat: Mortgage Rates Break The 5% Level; Buyers Settle On Smaller Homes

United States Joel Kan Lawrence Yun NAR Freddie Mac Inflation Redfin

The latest U.S. housing and mortgage data points to rates continuing their dizzying rise, fewer homes being sold and prospective buyers agreeing to purchase smaller properties.

Up, Up And Away: Freddie Mac (OTC:FMCC) reported the 30-year fixed-rate mortgage averaged 5.11% as of April 21, up from last week when it averaged 5%. The 15-year fixed-rate mortgage averaged 4.38%, up from last week when it averaged 4.17%. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.75%, up from last week when it averaged 3.69%.

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