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Mortgage rates plummet to new lows on market concerns 

Aug 11, 2011By

Mortgage interest rates plummeted to new lows this week as the economy felt the stings of European debt concerns and investors rushed to U.S. Treasurys, a scenario that pushed long-term yields lower. The 30-year, fixed-rate mortgage fell to 4.32%, its lowest point this year. That’s down from 4.39% last week and 4.44% a year earlier, Freddie Mac said in its primary mortgage market survey.

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