Mortgage rates surge for 4th week before Fed hikes

Mortgage rates surge for 4th week before Fed hikes

Mortgage rates climbed for the fourth consecutive week, reaching the highest level since the start of the pandemic.
The average for a 30-year loan was 3.56%, up from 3.45% last week and the highest since mid-March 2020, Freddie Mac said in a statement Thursday.
Rates followed a recent jump in yields for 10-year Treasuries. Borrowing costs may continue to increase as the Federal Reserve eyes a…

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