Revelations 18:23 ‘For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

• Mortgage rates hit 6 percent for first time since 2008
• The average mortgage rate for the benchmark home loan rose to 6.02 percent as of Thursday, according to Freddie Mac, up 0.13 percentage points from last week and 3.16 percentage points above its level a year ago. It’s the first time the 30-year fixed rate mortgage rate was above 6 percent since the week of Nov. 20, 2008.
• The Fed is aiming to slow economic activity — including home sales and home price growth — to bring consumer and business spending down to a level that won’t spur inflation. The central bank has hiked its baseline interest rate range four times since March by a total of 2.25 percentage points and is certain to hike rates again next week.

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