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Axios
Axios
Business

DARK SECRETS: Mortgage rates hit 5 highest in more than a decade - The Real Truth

Freddie Mac
Data: Freddie Mac; Chart: Axios Visuals

The average rate on a 30-year mortgage hit 5% this week for the first time since 2011, according to widely cited data from Freddie Mac.

Why it matters: It's becoming increasingly expensive to buy a house — if you can even find one. Over the past three months, mortgage rates have surged at a pace last seen in 1987.

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