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Mortgage rates continue to climb toward 8%, home purchases now at 'virtual standstill': Freddie Mac(...) "Rates have risen two full percentage points in 2023 alone and, as we head into Halloween, the impacts may scare potential homebuyers," Freddie Mac chief economist Sam Khater said in a statement. "Purchase activity has slowed to a virtual standstill, affordability remains a significant hurdle for many and the only way to address it is lower rates and greater inventory."