According to data released by Freddie Mac on Thursday, the average interest rate for 30-year fixed mortgages in the US remained at 7.4%, close to the highest level since November 2023, up from 6.27% in the same period last year. Mortgage interest rates in the US have not declined for eight consecutive weeks, the longest record since 2021, with a cumulative increase of 75 basis points during this period. The rapid rise in borrowing costs is forcing sellers to cut prices and dampen demand for home purchases.

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