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Fixed Rates See New Bottom

The search for a new low is still on as fixed-rates continue to break record-lows week after week. According to Freddie Mac’s survey, fixed rates fell again following reports showing a slowdown in consumer spending and the manufacturing industry. The 30-year fixed-rate mortgage fell to 3.62 percent (0.8 point) for the week ending July 5. Last week, it averaged 3.66 percent, and last year at this time, it was 4.60 percent. Read more…

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