BusinessUS Mortgage Rates Rise to 7.28% Amid Inflation and Iran Conflict
US mortgage rates have reached 7.28% for a 30-year fixed loan, the highest in nearly three years, driven by rising Treasury yields and persistent inflation. This marks the sixth consecutive weekly increase and the largest jump in four years. The 15-year fixed mortgage rate also rose to 6.60%. Stronger economic growth and inflation above the Federal Reserve's 2% target are key factors.
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