Mortgage Rates Tick Up Amid Middle East Tensions
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Mortgage rates surged again this week, reaching six point two two percent, due to escalating tensions in the Middle East and soaring oil prices. This marks the third consecutive week of increases, with homebuyers feeling the impact on affordability. However, adjustable-rate mortgages could be an option, starting at five point five percent, and come with safeguards to mitigate risks. Despite recent hikes, rates remain lower than a year ago and historical averages, potentially benefiting buyers and refinancers in the long run.
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