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Mortgage rates might soar even higher

Mortgage rates house, resize

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Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries.

Mortgage rates have nearly doubled to around 6.5% from the beginning of this year, but they may have not peaked, putting pressure on affordability challenges for most prospective buyers as the Federal Reserve vows to tame inflation. 

Following the Fed’s decision to raise interest rates by an additional details ⇒

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