Mortgages Hit Three-Year High

US Mortgage Rates Reach Three-Year High Amid Rising Inflation and Global Tensions

Mortgage rates in the US have risen sharply, reaching a level of 7.28% on Oct. 1, the highest since November 2023. This increase is expected to further strain an already weak housing market. The Iran war and rising inflation have also contributed to this increase. The average 30-year fixed-rate mortgage rate is the highest in nearly two years.

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