Mortgage rates skyrocket to highest level in more than 20 years

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Mortgage rates hit their highest level in more than 20 years. The 30-year fixed rate is currently over 7% steep.

FILE - A patio home development is shown in Sewickley, Pa., on Saturday, June 10, 2023. On Thursday, Freddie Mac reports on this week's average U.S. mortgage rates.

 

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