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The Economic Times
The Economic Times
Business

US mortgage rates brush 7%, weighing on buyers, sellers and further straining a bleak housing market

United States Housing Market US Federal Reserve

Home shoppers holding out for relief from rising mortgage rates may be in for a long wait.

The weekly average rate on a 30-year fixed-rate home loan has been rising for months and this week climbed to just below 7% - its highest level in over 19 months.

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