Category: Mortgage Rates
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The Impact of Rising Mortgage Rates
The 30-year fixed rate mortgage average in the United States has been on a steady rise over the past 12 months. On February 24, 2022, the average rate was 3.89 percent. As of February 24, 2023, the rate had jumped to 6.50 percent. Here’s a basic scenario that shows just how much of an impact…