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Mortgage Rates Approaching 7%
Mortgage News Daily • • business
Key Points:
- Average daily top-tier 30-year fixed mortgage rates represent ideal scenarios that are uncommon in real-world situations.
- Actual average rates tend to be higher due to additional upfront costs, even if the nominal rate matches national averages.
- The daily rate index used here incorporates upfront costs, unlike Freddie Mac's weekly survey, which excludes them.
- MBA's weekly survey differentiates between rates and upfront costs by collecting separate data for each.
