Average mortgage rates in the US have risen to their highest level in 14 years, edging closer to 6 percent as it becomes clear to investors that the will continue its aggressive policy rate hikes to combat .The average rate on a 30-year fixed jumped to 5.89 percent this week, topping June's recent peak and reaching its highest level since November 2008, mortgage buyer Freddie Mac said on Thursday. Combined with home prices near record highs, it means the monthly mortgage payment for the median home is now 60 percent higher than it was a year ago, according to National Association of Realtors economist Nadia Evangelou.
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