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Real Estate • April 26, 2024

Mortgage Rates Continue Rising

by Joanne Fishman

Don’t try to time the market.

Mortgage rates continued rising this week with the 30-year fixed-rate mortgage reaching 7.17 percent, according to Freddie Mac. Despite rates increasing more than half a percent since the start of the year, home buying demand remains steady.

With rates staying higher for longer, many homebuyers are adjusting, as evidenced by this weeks report that sales of newly built homes saw the biggest increase since December 2022.

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