Mortgage rates rise for 2nd consecutive week, pushing more potential home buyers onto the sidelines

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Mortgage rates rise for 2nd consecutive week, pushing more potential home buyers onto the sidelines
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The 30-year mortgage rate is averaging at 6.32%, Freddie Mac said in its latest weekly survey on Thursday.

The numbers: Mortgage rates rose for the second week in a row, pouring cold water on the housing industry’s optimism that it in recovery mode.

The 30-year fixed-rate mortgage averaged 6.32% as of Feb. 16, according to data released by Freddie Mac FMCC on Thursday. Rising rates are pushing more would-be home buyers onto the sidelines. Mortgage demand fell in the latest week as rates rose, according to a separate report by the Mortgage Bankers Association.

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