The rate on the 30-year-mortgage hit 7.16%, the highest since 2001, according to data released this morning from the Mortgage Bankers Association. Fast-rising rates have flattened the once-frothy housing market. In East Baton Rouge Parish, closed home sales were down 19% in September compared to the month before, the Greater Baton Rouge Association of Realtors
Mortgage rates surge above 7%
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