US families hit hard by rising mortgage rates
The averages for 30-year mortgage interest rates in the United States have risen to 6.71%, the highest level in 13 months, increasing the burden on families and leading to delays in home purchases. Additionally, the interest rate for 15-year loans has reached 6.04%. These increases in real estate borrowing costs are impacting the housing market, with interest rates driven by Federal Reserve decisions and economic forecasts.
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