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 <p>Amid what has been a fragile economic reality for citizens, US <a rel="noopener noreferrer nofollow" title="Mortgage rate" href="https://thebittimes.com/tag/mortgage-rate.html">Mortgage rate</a>s have officially risen to their highest levels in more than 22 years. The housing market has continued to be incredibly tough, with an average of 7.5% for a 30-year loan marking the highest figures since the year 2000.</p>
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    <p lang="en" dir="ltr">JUST IN: 🇺🇸 US <a rel="noopener noreferrer nofollow" title="Mortgage rate" href="https://thebittimes.com/tag/mortgage-rate.html">Mortgage rate</a>s rise to highest level in over 22 years.</p>— Watcher.Guru (@WatcherGuru) October 5, 2023
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 <p>The United States has continually fought inflation through interest rate hikes in order to fend off a recession. Yet, those actions are set to have robust consequences that begin to manifest over the course of the next several years. Now, the <a rel="noopener noreferrer nofollow" title="Mortgage rate" href="https://thebittimes.com/tag/mortgage-rate.html">Mortgage rate</a> increases are poised to be a massive concern for citizens in the market for a new home.</p>
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 <p><strong>Also Read: Former Treasury Secretary Predicts Future of the US Dollar</strong></p>
 <h2 class="wp-block-heading" id="h-us-mortgage-rates-climb-to-heights-not-seen-since-2000">US Mortgage Rates Climb to Heights Not Seen Since 2000</h2>
 <p>The entire world is navigating rather vulnerable economic circumstances, and the United States is not exempt from that. The Federal Reserve has enacted a year-long interest rate hike that has dominated headlines. Now, the housing market is being exposed for its difficulty for new homebuyers.</p>
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 <p>Specifically, data shared by USA Today shows US <a rel="noopener noreferrer nofollow" title="Mortgage rate" href="https://thebittimes.com/tag/mortgage-rate.html">Mortgage rate</a>s reaching their highest level in more than 22 years. Moreover, the report notes that 10-year Treasury bond yields have also reached a 16-year high at 4.8%. Susbeuqnelty, initiating a stark climb in <a rel="noopener noreferrer nofollow" title="Mortgage rate" href="https://thebittimes.com/tag/mortgage-rate.html">Mortgage rate</a>s.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="576" src="https://cdn.thebittimes.com/images/2023/10/06/664288f87e46965663a36dabc0960277.webp" alt="Newly released data has revealed that US mortgage rates have risen to their highest level in more than 22 years" class="wp-image-112313" srcset="https://cdn.thebittimes.com/images/2023/10/06/664288f87e46965663a36dabc0960277.webp 1024w, https://cdn.thebittimes.com/images/2023/10/06/664288f87e46965663a36dabc0960277.webp 300w, https://cdn.thebittimes.com/images/2023/10/06/664288f87e46965663a36dabc0960277.webp 768w, https://cdn.thebittimes.com/images/2023/10/06/664288f87e46965663a36dabc0960277.webp 380w, https://cdn.thebittimes.com/images/2023/10/06/664288f87e46965663a36dabc0960277.webp 550w, https://cdn.thebittimes.com/images/2023/10/06/664288f87e46965663a36dabc0960277.webp 800w, https://cdn.thebittimes.com/images/2023/10/06/664288f87e46965663a36dabc0960277.webp 1160w, https://cdn.thebittimes.com/images/2023/10/06/664288f87e46965663a36dabc0960277.webp 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p><strong>Also Read: United States Witnesses $5.9 Trillion Vanish in Wealth in 2022 </strong></p>
 <p>Freddie Mac’s chief economist, Sam Khater, recently discussed the development. Specifically, they stated that “several factors, including shifts in inflation, the job market, and uncertainty around the Federal Reserve’s next move, are contributing to the highest <a rel="noopener noreferrer nofollow" title="Mortgage rate" href="https://thebittimes.com/tag/mortgage-rate.html">Mortgage rate</a>s in a generation.”</p>
 <p>Just a year ago, a 30-year fixed-rate mortgage was 6.6%, articulating the massive difference from the past 11 months. Understandably, homebuyers are seemingly being priced out of the market altogether. Mortgage applications are down 22% from a year ago, according to a recent report. Subsequently, it reached its lowest levels since 1996.&nbsp;</p>
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  <li>Mortgage rate</li>
  <li>united states</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/us-mortgage-rates-rise-to-highest-level-in-over-22-years-tbt65286.html">https://thebittimes.com/us-mortgage-rates-rise-to-highest-level-in-over-22-years-tbt65286.html</a></p>

US Mortgage Rates Rise to Highest Level in Over 22 Years

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