US Mortgage Rates Rise to Highest Since March, Slowing Demand
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US mortgage rates rose to a more than two-month high, reducing home purchase and refinance activity.
The contract rate on a 30-year fixed mortgage increased 12 basis points to 6.69%, according to Mortgage Bankers Association data out Wednesday. The index of applications for home purchases fell 4.3% in the week ended May 19 to the lowest level since early March.