Mortgage rates climb as buyer’s market momentum slows
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Mortgage rates have increased, with the average 30-year fixed rate rising to 6.57% following a significant PPI inflation report. The buyer's advantage is diminishing, as Redfin data indicates a decrease in the surplus of sellers from 48.9% in December to 46.5% in April. Additionally, seven U.S. metropolitan areas are now classified as seller's markets, the highest number in nine months, while 34 areas continue to be in buyer's market conditions.
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