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Mortgage rates climb for third week on threat of sticky inflation
Housing market has a ‘silver lining’: Adam Johnson
Bullseye American Ingenuity Fund Portfolio Manager Adam Johnson and Payne Capital Management President Ryan Payne discuss their outlooks for the housing market, retail industry, and prospects of a recession.
The average rate on a 30-year fixed mortgage rose to 6.5% on Thursday from 6.32% last week, according to mortgage buyer Freddie Mac. A year ago, the average rate was 3.89%.
The 15-year fixed-rate mortgage averaged 5.76%, up from last week when it averaged 5.51%. A year ago at this time, the 15-year FRM averaged 3.14%.