Mortgage rates jumped more than a quarter point this week and remain at the highest level in 14 years, offering no relief to sidelined homebuyers.
The average rate on the 30-year fixed mortgage increased to 6.29% from 6.02% last week, according to Freddie Mac, marking the highest point since the last week of October 2008. Rates are more than 3 percentage points higher than at the start of the year.
Rapidly rising rates this year have only made what was an unaffordable housing market for many…
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