Mortgage rates in the US have risen considerably in 2022 (CNBC, US News & World Report). The outcome will be 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 21 July 2022, the weekly average interest rate for 30-year fixed-rate mortgages in the US was 5.54%.

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