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The Economic Times
The Economic Times

US 30-year fixed-rate mortgage rate hits 7.40%, likely to further erode housing demand

United States Donald Trump Housing Market Inflation Home Prices

The average rate on the popular US 30-year fixed-rate mortgage surged to a near three-year high this week, and could increase further as concerns over inflation boost Treasury yields.

The 30-year fixed mortgage rate averaged 7.40%, the highest level since November 2023, ⁠mortgage finance agency Freddie Mac said ​on Thursday. That was up from 7.28% last week.

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