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July 1, 2016

30-year mortgage rate falls to 3.48%

WASHINGTON (AP) — Long-term U.S. mortgage rates slid to new lows for the year this week amid market upheaval stoked by Britain's vote to leave the European Union. Rates are at three-year lows at the height of the spring home buying season.

Mortgage buyer Freddie Mac said Thursday the average 30-year fixed-rate mortgage fell to 3.48 percent from 3.56 percent last week. The benchmark rate is down sharply from 4.08 percent a year ago, and close to its all-time low of 3.31 percent in November 2012.


 
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