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mortgageCNBC
•Business
Business & Economics
70% Informative
The average rate on the popular 30-year fixed mortgage surged 13 basis points Friday to 7.1% .
That's the highest rate since mid-February .
Mortgage rates follow loosely the yield on the 10-year Treasury .
"Forget about housing in this environment," says Nancy Lazar , chief economist at Piper Sandler .
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