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The average 30-year fixed rate mortgage was 7.4% this week through Wednesday, according to Freddie Mac survey data, up from 7.28% a week earlier.
US 30-year mortgage rates reached 7.55% as refinancing and purchase applications declined, raising monthly costs and pushing more borrowers toward ARMs
The Mortgage Bankers Association stated that the average rate for a 30-year fixed mortgage for the week ending October 2 rose 0.19 percentage points from the previous week to 7.49%.