Mortgage Rates Hit Yearly Highs as US Economy Slows Amid Inflation Fears
Average 30-year fixed mortgage rates have reached yearly highs, pushing up borrowing costs for prospective homebuyers. The rate climb is attributed to persistent inflation concerns and rising energy prices. Meanwhile, the broader U.S. economy expanded at a sluggish pace in the second quarter, missing forecasts. Analysts point to factors like tariffs, falling government spending, and oil price hikes as key drag points on growth.
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