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For the 4th time in 9 months, average 30-yr mortgage rates have moved near or above 7%.
This despite:
The bond market is behaving strangely, but as inflation fades further in the 2H of 2023, the strong relationship between inflation and interest rates will reassert itself and mortgage rates WILL drop.
If you buy today, you can refinance (probably) next year... But in the meantime, home prices continue to rise while you sit on the fence.
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