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Freddie Mac, the U.S. government-sponsored enterprise, has reported record 30-year (7.31%) and 15-year (6.72%) fixed-rate mortgages since 2000, according to a survey released on Thursday. These rates target borrowers with excellent credit who can make a 20% down payment.
Despite the mission of Freddie Mac to promote housing stability, the low inventory of houses on the market has led to increasing house prices. This situation has sparked hesitation among potential buyers and investors, reflecting concerns about affordability in the current economic climate.
This increase in mortgage rates comes amid broader economic trends and market conditions that are being closely monitored by stakeholders in the housing sector. It remains to be seen how these developments will impact future home sales and the overall housing market in the United States.
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