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30-Year Mortgage Rates Fall for Second Straight Week

  • October 29th

by UrbanTurf Staff

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Mortgage rate chart_10-29-26.png

Mortgage rates dipped again this week, giving prospective buyers a little more breathing room.

The 30-year fixed-rate mortgage averaged 7.24%, according to Freddie Mac’s latest survey out Thursday. That’s down from 7.32% last week and 7.47% two weeks ago.

“The average 30-year fixed-rate mortgage declined again this week, reaching its lowest level this month and modestly boosting purchasing power for prospective buyers,” said Sam Khater, Freddie Mac’s chief economist.

Despite the back-to-back declines, borrowing costs remain significantly higher than they were a year ago, when the 30-year averaged 6.17%. 

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/30-year_mortgage_rates_fall_for_second_straight_week/25145.

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