Mortgage rates soar to their highest level in 21 years (www.cnn.com)

submitted 2 years ago by deconstruct@lemmy.world to c/personalfinance@lemmy.ml

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The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before. Rates have been above 6.5% since the end of May and climbing higher since mid-July. This week’s average rate is the highest the 30-year, fixed-rate mortgage has been since April 2002 when it was 7.13%.

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[-] Uranium3006@kbin.social 1 points 2 years ago

The "suburban dream" looks to be dying out for capitalism reasons (not to mention the exaustion of land a commutable distance by car from cities) and the yard is becoming inceasingly vestigial. Soon they'll reinvent townhomes

this post was submitted on 17 Aug 2023

96 points (100.0% liked)

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