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flag U.S. 30-year mortgage rates hit 6.85%, highest since mid-July, complicating homeownership.

flag The average 30-year mortgage rate in the U.S. climbed to 6.85%, its highest since mid-July, according to Freddie Mac. flag This marks the second consecutive week of increases, attributed to a rise in bond yields. flag Higher rates and rising home prices are making homeownership more challenging for many buyers, contributing to a slump in the housing market. flag Economists predict rates will stay above 6% next year, potentially reaching 6.8%.

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