Mortgage rates top 7%

Econ & Housing MCLEAN, Va. — Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), showing the 30-year fixed-rate mortgage (FRM) averaged 7.08%. “The 30-year fixed-rate mortgage broke 7% for the first time since April 2002, leading to greater stagnation in the housing market,” said Sam Khater, Freddie Mac’s chief economist. “As inflation…

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