Sky-high mortgage rates send new home sales tumbling

Econ & Housing

Alex Veiga  |  Associated Press Los Angeles — Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly 23 years, another blow to prospective homebuyers facing an increasingly unaffordable housing market. The average rate on the benchmark 30-year home loan rose to 7.31%, from…

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