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The average long-term US mortgage rate surges to 7.63%, holding at highest level since 2000
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A home under construction is shown on Sunday, Oct. 15, 2023 in Sudbury, Mass. On Thursday, Freddie Mac reports on this week's average U.S. mortgage rates. - photo by AP Photo/Peter Morgan
LOS ANGELES (AP) — The cost of financing a home surged again this week with the average long-term U.S. mortgage rate at its highest level since December 2000. The average rate on the benchmark 30-year home loan rose to 7.63% from 7.57% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.94%.