Mortgage rates continue to climb toward 8%, home purchases now at 'virtual standstill': Freddie Mac

Mortgage rates continued their upward trajectory this week, inching closer to 8% yet again as purchase demand sputters. Freddie Mac reported Thursday that the average rate for the benchmark 30-year fixed mortgage has now hit 7.79%, up from 7.63% last week and from 7.08% a year ago. The rate for a…

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