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Wednesday, March 11, 2026

Fed cuts were supposed to lower mortgage rates, but they’re back above 7%. Here’s why

Mortgage rates hit 7% for the first time since May 2024 on Thursday, providing another drag in an already tough housing market. Inflation remains stubbornly high for many Americans. Could it get worse under Trump? The Federal Reserve lowers interest rates again — but hints at fewer cuts next year The …

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