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US mortgage rates rise again
Mortgage interest rates in the United States have experienced a significant increase, with the average rate for a 30-year loan reaching 7.49%, the highest level in three years. This reflects a rise in Treasury bond yields of over 5.3%, along with escalating inflation driven by increased fuel costs and the ongoing conflict between America and Iran. This surge in rates is reinforcing the downturn in the housing market and comes amid political tensions ahead of the November midterm elections. It is also significantly impacting borrowing costs, with financing expenses rising for companies with lower credit ratings.
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