Mortgage Rates at a Seven-Month High

It looks like wheedling in new buyers with low rates like bribing children with candy simply isn’t working for mortgage providers. In fact, they seem to have given up on the strategy completely, as evidenced by yet another hike in mortgage rates this week.

Rates are now the highest they have been seven months, with the average 30-year fixed-rate mortgage at 5.59% and 15-year fixed-rate mortgages at 5.06%. Both of these numbers are still lower than last year’s rates at the same time.

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