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Bill may let SC homeowners take low mortgage rates with them

A proposed bill would let South Carolina homeowners with ultra-low rates transfer them to new homes, possibly loosening inventory and helping combat the market’s affordability crisis.

Coverage (1)· Oct 1, 9:00 AM

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Struggling US homebuyers, and market, face new hurdles as mortgage rates climb to nearly 7%Mortgage rates climbed for the fourth week in a row, driving the average long-term U.S. home loan rate to just below 7%, its highest level in over 19 months. Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year fixed rate mortgage rate rose to 6.95% from 6.76% last week. One year ago, the average rate was 6.26%. The average rate on 15-year…