finance
30-Year Mortgage Rate Rises to 6.51 Percent This Week
The average U.S. 30-year fixed mortgage rate increased to 6.51 percent from 6.36 percent, Freddie Mac reported Thursday. The rate remains below the 6.86 percent level recorded one year earlier.
May 23, 10:10 AM·1m read1 source
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U.S. mortgage rate rose this week to its highest level in nearly nine months. 36 percent the previous week, Freddie Mac said Thursday. The increase occurred as long-term bond yields moved higher. U.S. government debt contributed to the rise in yields.
55 on Friday, AAA data showed. That price is roughly 45 percent above the level recorded at the same time last year. Retailers have reported mixed results amid higher fuel costs and tariff changes. Walmart issued a quarterly forecast below Wall Street expectations on Thursday, while Target raised its full-year revenue outlook on Wednesday.
Applications for unemployment benefits declined last week.
The number of new claims fell as layoffs stayed low despite ongoing economic uncertainties.
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