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Real Estate Stocks Decline, Ending Six-Day Winning Streak As Mortgage Rates Surge To 23-Year Highs

Mortgage rate data revealed worrisome increases, with the average rate on a 30-year fixed mortgage reaching 7.57%, marking the highest level in 23 years. The average rate on a 15-year fixed mortgage also rose to 6.89%, compared to 6.78% the previous week, as reported by Freddie Mac.