US 30 Year Mortgage Rate Hits 658 Percent Says Freddie Mac
Freddie Mac has announced that the 30-year mortgage rate has risen to 6.58%, a significant increase that could have far-reaching implications for the real estate market. This rise in mortgage rates is expected to dampen demand in the housing sector as potential buyers may find borrowing more expensive, leading to reduced affordability in the already competitive market.
As the real estate industry grapples with this development, investors may also feel the pinch, facing lower returns due to decreased housing activity. Such changes in the mortgage landscape can influence broader economic conditions, highlighting the necessity for market participants to stay informed and adapt strategies accordingly.
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