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    How to Shop for a Low Mortgage Rate

    by Daniel Bortz Sep 01, 2022 5 minutes

    Good news, house hunters: Home prices have started to cool. Prices are still rising, but annual home price appreciation slowed from April to June, with June marking the strongest single-month deceleration in home price growth ever, according to Black Knight, a mortgage data analytics firm. 

    The bad news:Rising mortgage rates are making homeownership less attainable for some buyers.

    Although mortgage rates have been in a state of flux this year, the 30-year fixed-rate average ballooned from 3.2% in January to 5.3% at the end of July, according to Freddie Mac. Consequently, the national median mortgage payment hit $1,893 in June, a $509 increase since the beginning of the year, says the Mortgage Bankers Association. 

    Fears of inflation are stoking higher mortgage rates, even though geopolitical tensions and  tend to drag mortgage rates lower, says Odeta Kushi, deputy chief economist

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