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Average U.S. 30-Year Mortgage Rate Rises to 6.3%
Ending a 3-week slide, it’s up from 6.23% last week, but lower than the 6.76% a year ago. The 15-year FRM rose to 5.64%; it was 5.58% last week and 5.92% a year ago.
Key Inflation Gauge at Highest Level in 3 Years
Prices rose 3.5% compared to a year ago, pushing inflation further away from the Fed’s 2% target, likely leaving interest rates on hold at least for now.
Home Building Shows Signs of Stabilization in March
Housing production bounced back in March as builders increased starts despite headwinds. Overall starts rose 10.8% to a seasonally adjusted pace of 1.5 million.