On Thursday, the average long-term mortgage rate in the United States rose for the fourth week in a row, in a setback for Americans looking to potentially buy a home in the traditional homebuying season of spring.
According to ABC News, mortgage buyer Freddie Mac announced that the average rate on a 30-year mortgage rose from 6.90% to 6.94%. Although this is slightly less than the recent high of 6.95% in December, it is still higher than what it was at the same time one year ago, when the average rate was 6.65%.
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