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March 29, 2019

Mortgage rates post biggest drop in decade to 4.06 percent

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON — Purchasing a home just became a lot cheaper, thanks mostly to the Federal Reserve's decision last week to put its interest rate hikes on hold for now.

Mortgage buyer Freddie Mac said Thursday that the average 30-year fixed rate mortgage plunged to 4.06 percent this week, down from 4.28 percent last week. That's the steepest weekly drop in a decade.


 
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