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Mortgage rates are surging to the highest level in 7 years

Mortgage rates are surging to the highest level in 7 years

"The bottom line is that the writing on the wall has been telling rates to go higher since at least last September," said Matthew Graham, chief operating officer of Mortgage News Daily. "Rates keep looking back to see if the writing has changed, and although there have been opportunities for hope (trade wars, stock selling-sprees, spotty data at times), it hasn't. Today is just the latest reiteration of that writing."

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