Rates on the 30-year fixed mortgage [FRM] dropped to a record low in the past week, according to a survey released Thursday by Freddie Mac (FRE). Rates on 30-year mortgages averaged 4.57% for the week ended July 8, down from the previous week’s 4.58%. Last year at this time, the 30-year FRM averaged 5.20 percent, according to the survey, which started in April 1971 – Reuters
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