Mortgage rates headed higher this week in the wake of several smaller forces rolling up to one major cause: inflation.
The average rate on a 30-year fixed-rate mortgage rose six basis points to 6.74% APR in the week ending Sept. 10, according to rates provided to NerdWallet by Zillow. (A basis point is one one-hundredth of a percentage point.) We calculate our weekly average using daily APRs recorded over the past five business days.
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