A sign announces newly built homes at a development in Sudbury, Ma., on Sunday, March 12, 2023. On Thursday, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/Peter Morgan)
March 18, 2023
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March 18, 2023 midnight
Average long-term US mortgage rates come back down to 6.6%
The average long-term rate hit 7.08% in the fall — a two-decade high — as the Federal Reserve continued to raise its key lending rate in a bid to cool the economy and quash persistent, four-decade high inflation.