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Mortgage Rates Drop to 15-Month Low
Mortgage rates fell to the lowest level in more than a year, raising hopes for relief in the battered U.S. housing market.
The average rate on the standard 30-year fixed mortgage fell around a quarter percentage point to 6.47%, according to a survey of lenders released Thursday by mortgage-finance giant Freddie Mac, a low not seen since May 2023 and the sharpest weekly decline in around nine months.
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