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International Business Times
International Business Times
National
Carla St. Louis

DARK SECRETS: Mortgages rates keep rising despite fed rate cuts | Vintage Vibes

A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. (Credit: PATRICK T. FALLON/AFP via Getty Images)

While the Federal Reserve has been cutting its key interest rate, mortgage rates have been heading in the opposite direction.

The elevated rates appear to be affecting buyer demand. A new report shows the number of people applying for mortgages decreased by 3.7 one week earlier.

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