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Competitive housing market in America, despite rising rates

Seattle, Portland, San Francisco
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The 30-yr fixed-rate mortgage averaged 5.81% in the week ending June 23, ↑ from 5.78% WoW. Many potential homebuyers are still interested in purchasing a home, keeping the market competitive.Still, the sharpness of current mortgage rate increases combined with the spike in borrowing costs will ultimately make consumers more cautious.Experts believe that further increases in mortgage rates are likely to happen through the rest of 2022.

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