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The ‘housing market appears to be stuck,’ as mortgage rates stay over 7%

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The 30-year mortgage rate is averaging 7.12%, Freddie Mac said in its latest weekly survey.

The 30-year fixed-rate mortgage averaged 7.12% as of Sept. 7, according to data released by Freddie Mac FMCC, +6.47% on Thursday.

Freddie Mac’s weekly report on mortgage rates is based on thousands of applications received from lenders across the country that are submitted to Freddie Mac when a borrower applies for a mortgage.

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