The average interest rate on 30-year fixed-rate mortgages remained at 7.23% for a second week, the highest level since November 1997, according to a survey by Freddie Mac. This year that rate has fluctuated between 6.74% at the end of January and the latest level.

Fifteen-year mortgages averaged 6.84% last week, up from 6.83% the week before.

One-year adjustable-rate mortgages had an average initial rate of 5.73%, down from 5.76% the previous week.

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