‘The housing market may have to go through a correction’: Mortgage rates hit 6.29%, Freddie Mac says

The numbers: U.S. mortgage rates continue to climb, adding hundreds of dollars in costs to potential homeowners.

The increase in mortgage rates followed the Federal Reserve hiking interest rates again to address the worst inflation the economy has faced in 40 years. 

The 30-year fixed-rate mortgage averaged 6.29% as of September 15, according to data released by Freddie Mac on Thursday. 

That’s up 27 basis points from the previous week — one basis…

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