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Mortgage Rates Slightly Increase, Still Low
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Mortgage rates in the U.S. saw a slight increase this week, with the average rate for a thirty-year mortgage reaching six point two two percent. Despite this, rates remain close to their lowest point this year, offering stability for potential homebuyers. Borrowing costs for fifteen-year fixed-rate mortgages also climbed, now averaging five point five four percent. These rates are influenced by factors such as Federal Reserve decisions and bond market investor expectations. Economists predict the average rate for a thirty-year mortgage will stay just above six percent next year, helping offset continued growth in home prices.
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