Oil boosts US mortgage rates to nine-month high
The mortgage interest rate in the United States has risen to its highest level in nine months, reaching 6.53% for 30-year loans. This increase raises the costs of home purchases and adds extra pressure on the housing market, especially amid rising home prices and limited supply. This hike reflects the influence of higher oil prices and inflation, along with Federal Reserve decisions, which have heightened the market's sensitivity to bond yields and mortgage financing costs.
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