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13.06 - 13:21
Mortgage Rates Drop for Second Week in a Row
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Mortgage rates are starting to decline after hitting levels unseen in more than a decade.
The average rate on a 30-year fixed-rate mortgage fell for the second week in a row to 5.10%, mortgage-finance giant Freddie Mac said Thursday, following their steepest rise in decades. Rates peaked at 5.3% earlier in May, the highest level since 2009 and well above the 2.94% average rate from a year earlier.
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