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- A sign announces newly built homes in Sudbury, Ma., on March 12, 2023. On Thursday, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/Peter Morgan, File)
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The average long-term US mortgage rate surges to 7.49%, its highest level since December 2000
By ALEX VEIGA - AP Business Writer
Thu,10/05/23-11:13AM , 345 Reads
LOS ANGELES (AP) — The cost of financing a home surged again this week as the average long-term U.S. mortgage rate climbed to its highest level since December 2000, further dimming the affordability outlook for many would-be homebuyers.
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- A for sale sign stands outside a single-family residence on Sunday, June 18, 2023, in Denver. On Thursday, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/David Zalubowski)
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The average long-term US mortgage rate reaches highest point in nearly 23 years, hitting 7.31%
By ALEX VEIGA - AP Business Writer
Thu,09/28/23-11:08AM , 518 Reads
LOS ANGELES (AP) — Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly 23 years, another blow to prospective homebuyers facing an increasingly unaffordable housing market.
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- AP correspondent Seth Sutel reports on Markets Report PM Friday.
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Stock market today: Wall Street edges higher following data that shows the labor market is cooling
By ALEX VEIGA - AP Business Writer
Fri,09/01/23-3:19AM , 583 Reads
A choppy day of trading on Wall Street ended Friday with slight gains for stocks, as the market notched its second straight winning week.
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- Wall Street closes a losing week amid continuing concerns about inflation. The AP's Seth Sutel has the end of week markets report.
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Stock market today: Wall Street ends mixed, closing out another losing week
By ALEX VEIGA - AP Business Writer
Fri,08/11/23-12:57AM , 619 Reads
A choppy day of trading on Wall Street ended Friday with an uneven finish for the major stock indexes, as mixed economic data stoked worries that the Federal Reserve’s work on bringing inflation to heel isn’t done.
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