MORTGAGE INTEREST RATES GOES ABOVE 6% FOR THE FIRST SINCE 2008

The most popular mortgages in the United States now have an average interest rate above 6%, the first time since 2008 that number has been exceeded.

According to data from the Mortgage Bankers Association (MBA), average interest rates have doubled over a year ago, Reuters reports.

The Fed’s rate hikes continue to raise borrowing costs to recover from higher rates.

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