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According to Freddie Mac, fixed Mortgage rates fell this week. The 30-year fixed rate Mortgage averaged approximately 4.42%, down .02% from last week. The 15-year fixed rate Mortgage also dropped, falling from 3.47% last week to 3.34% this week. Additionally, the total mortgage debt for single-family housing jumped for the first time in nearly six years. Freddie Mac chief economist Frank Nothaft said, “This a positive sign, as it reflects that the pickup in new purchase money originations has offset loan pay-downs.” More here
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