Mortgage Rates Up/Home Prices Flatlined

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As much of the country swelters under a heat dome, the housing market is experiencing its own meltdown.

Mortgage rates jumped to 6.81% for a 30-year fixed-rate loan for the week ending July 27, according to Freddie Mac. That’s up from last week’s average rate of 6.78%. And the welcome run of median home prices declining for 42 days flatlined for the week ending July 22.

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