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US mortgage rates stay firm as affordability pressures persist
Borrowing costs remain elevated as US mortgage rates stay near highs, reflecting inflation pressures, cautious Fed policy, and limited near-term relief for prospective homebuyers.
Mortgage rates in the US held mostly steady on January 22 as borrowers weighed affordability against policy uncertainty. Average 30-year fixed rates hovered near recent highs, keeping monthly payments elevated for homebuyers. Persistent inflation and Federal Reserve caution are limiting relief, though gradual cooling in housing demand could stabilize rates if economic data weakens further in coming months amid shifting global financial conditions