Mortgage rates jumped back above 5%, after briefly and barely falling below that level last week.
The rate on the 30-year fixed mortgage increased to 5.22% from 4.99% the week prior, according to Freddie Mac. While the rate remains lower than the 5.81% registered in June, it’s still 2 percentage points higher than the start of the year.
The jump in rates is discouraging news for sidelined, price-shocked buyers, who are contending with tough affordability conditions. Meanwhile, homeowners are…
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