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Mortgage rates hit a five-week low

home prices

Mortgage rates for 30-year loans dropped to a five-week low, which will likely be extended due to the Federal Reserve's decision to refrain from reducing its monthly mortgage bond and Treasury purchases. Per Bloomberg:

The average rate for a 30-year fixed mortgage dropped to 4.5% from 4.57%, Freddie Mac said in a statement today. The average 15-year rate decreased to 3.54% from 3.59%, according to Freddie Mac.

Source: Bloomberg

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