Mortgage rate soars to 7.22% after strong economic data
PUBLISHED THU, JUL 6 202312:53 PM EDTUPDATED THU, JUL 6 20232:07 PM EDT
By: Diana Olick
The average rate on the popular 30-year fixed mortgage hit 7.22% on Thursday, according to Mortgage News Daily. That’s the highest point since early November.
Mortgage rates follow loosely the yield on the 10-year Treasury, which leapt higher following a much stronger-than-expected employment report from ADP.
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