Mortgage rates have hovered around multi-decade highs in mid-2023, but many banks and financial institutions expect them to fall in the near term (Yahoo). The question will be suspended 29 November 2023 and the outcome determined using Freddie Mac 30-year fixed rate mortgage average data as reported by the Federal Reserve Economic Data (FRED) database (FRED). For the week ending 1 December 2022, the weekly average interest rate for 30-year fixed-rate mortgages in the US was 6.49%.

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NOTE 29 October 2023: There was an error as to the suspend date in the question description. The question will be suspended on 29 November 2023.

The question closed "Between 7.20% and 7.50%, inclusive" with a closing date of 30 November 2023.

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