Mortgage Rates Rise for 2nd Week, Hitting 6.66% for 30-Year Loans
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Average long-term mortgage rates rose for the 2nd week in a row, reaching highest level in 4 weeks (6.66% for 30-year fixed)
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Rate still sharply higher than 2 years ago (3.45% in early 2022)
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Higher rates limiting home sales and purchases due to reduced affordability
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Mortgage rates have held steady in mid-6% range last few weeks
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Experts forecast rates could decline further in 2023 but likely not below 6%