US 30-Year Mortgage Rate Climbs by Most in Two Months to 6.43%
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US mortgage rates increased last week by the most in two months to 6.43%, denting already sluggish demand.
The contract rate on a 30-year fixed mortgage rose 13 basis points, abruptly ending a five-week slide in borrowing costs, Mortgage Bankers Association data showed Wednesday. The group’s index of mortgage applications for home purchases dropped 10% in the week ended April 14, the steepest decline in two months.