Weekly Mortgage Rate Update – Mortgage Rates Continue to Move Up

Per Freddie Mac:

Fixed mortgage rates have increased by more than two full percentage points since the beginning of the year. The combination of rising rates and high home prices is the likely driver of recent declines in existing home sales. However, in reality many potential homebuyers are still interested in purchasing a home, keeping the market competitive but leveling off the last two years of red-hot activity.

Some key takeaways:

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