Daily Market Updates: Mortgage rates average 7.63% as conforming and FHA rates rise

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Mortgage rates average 7.63% as conforming and FHA rates rise

HousingWire Data shows 30-year conforming rates at 7.63%, with FHA rates at 7.59% after jumping 59 bps in two weeks.

Reported · Written up by our desk · Mortgages

HousingWire reports that 30-year conforming mortgage rates averaged 7.63% on Tuesday, up 31 basis points over the prior two weeks.

The outlet said 30-year FHA rates averaged 7.59% after rising 59 bps in that same two week span, while 30-year jumbo rates averaged 7.85% after a 45 bps increase.

HousingWire added that lenders have pointed to weaker demand and margin pressure, and some firms have announced layoffs, office closures, or channel exits as rates move closer to 8%.

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HousingWireWill mortgage rates nearing 8% force lenders to make cuts or close their doors?

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Mortgage rates average 7.63% as conforming and FHA rates rise

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