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The 6% rate is “essentially double what it was a year ago,” Joel Kan, associate vice president of economic and industry forecasting at the trade group, said in a statement Wednesday. The higher mortgage rate has “contributed to more homebuyers staying on the sidelines,” he added.More: https://www.cbsnews.com/news/mortgage…#cbsnewsmiami #news #economy #economics #mortgage #homebuyers #homebuying #realestate #interest #interestrates #lending
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