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It's averaging 6.79%, Freddie Mac says.
Freddie Mac reported that the average 30-year fixed-mortgage rate climbed 13 basis points from last week.
Effective March 16, Hutchins will also become a member of Freddie Mac’s Board of Directors.
Freddie Mac's Chief Economist warns of persistent inflation pressure despite recent rate dip, suggesting prolonged elevated rates in the mortgage market.
Mortgage rates dip slightly, prompting increase in home loan applications.
The average 30-year fixed rate mortgage jumped to 6.94% last week.