17:39 - 23.08.2023

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August 23, Fineko/abc.az. Mortgage rates in the US have risen to their highest since November 2000, making housing unaffordable to potential buyers.

ABC.AZ reports with reference to CNBC that at the moment the average rate on a 30-year fixed mortgage was 7.48%, while last year the average rate was about 5.5%.

Mortgage rates moved higher following rising bond yields on fears that high interest rates and inflation would last longer than expected.

Meanwhile, investors do not see a significant deterioration in economic data, which they expected.