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Mortgage Rates Tick Up, Nearing 7%
After two consecutive weeks of declines, mortgage rates are back on the rise this week, up to 6.87% from last week’s average of 6.74%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday. This week’s numbers: The 30-year FRM averaged 6.87% as of March 21, 2024, up from last week…
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Residential Construction Helps Drive First Leading Economic Indicators Upswing in Two Years
The Leading Economic Index (LEI) increased by 0.1% in February to 102.8, marking the first time in two years the business-cycle monitor showed an uptick, thanks in part to residential construction, according to the latest release from The Conference Board. According to the latest report, the increase follows a 0.4% decline in January. Over the six-month…
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