Mortgage rates soar, approaching 7% |  CNN Business

Mortgage rates soar, approaching 7% | CNN Business

Mortgage rates jumped for the sixth consecutive week, approaching 7%. The 30-year fixed rate mortgage averaged 6.70% in the week ending Sept. 29, down from 6.29% the previous week, according to Freddie Mac. This is the highest level since July 2007. Mortgage rates have more than doubled since the start of this year as inflation …

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