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Mortgage rates rose to their highest level in a year amid the re-escalating conflict with Iran and investors grew more worried about the Federal Reserve’s plans to tame inflation. The average 30-year mortgage rate rose 8 basis points to 6.66%
It had been just six weeks since Federal Reserve Chairman Kevin Warsh vowed to reestablish the central bank’s reputation as an inflation fighter. But as he took to the podium to explain why the Fed again sat on the fence
What happened: Bond yields continued to climb on Thursday as oil prices rose amid an escalating conflict in the Middle East. The 10-year yield (^TNX), used as a benchmark for mortgage and loan rates, rose to 4.7% on Thursday, the
