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Mortgage rates rise slightly after a brief uptick in volatility

Mortgage News Daily said the average top-tier 30-year fixed rate remains just under 7.50%, after adding 0.04% from the prior day.

Reported · Written up by our desk · Mortgages

Mortgage rates moved higher again, with the increase coming after heightened volatility in the prior session, according to Mortgage News Daily.

The outlet said rates have risen more than half a point over the past two weeks, a pace it described as extraordinarily uncommon, occurring less than once per year on average.

In its daily update, Mortgage News Daily said the latest move was modest in the bigger picture, adding only 0.04% versus the prior day and leaving the average top-tier 30-year fixed rate just a hair below 7.50%.

The outlet noted the bond market actually improved day over day, which is something that often lines up with mortgage rates moving lower, but said it is unclear what that implies for the road ahead.

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