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Rates Pause Upward Trend & Jobs Report This Week

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Hope you had a fantastic Fourth of July holiday! As the possibility of recession increases based on the latest GDP (gross domestic product) data released and high inflation, mortgage rates paused their upward trend last week, even showing slight improvement. This pause should help the housing market rebalance to a more normal pace of home

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

The Wild Ride Continues and It’s Jobs Week!

By Rates News, , , , , , ,

Wild times we’re living in! Last week’s events including rising inflation, continued geopolitical uncertainty, and the Fed’s move to raise its key interest rate, drove mortgage rates higher at a pace not seen in a long time. According to Freddie Mac’s weekly survey, which came out last Thursday, the average rate for a 30-year fixed-rate

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