Mortgage Rates Hit 7.14%, Flattening Home Sales

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At a glance

  • Mortgage demand flattened last week but was significantly lower than it was one year ago.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 7.14% from 7.06% for loans with a 20% down payment.

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