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June 6, 2025

30-year mortgage rate falls to 6.85%, first decline in a month

By MATT OTT
AP Business Writer

WASHINGTON — The average rate on a 30-year mortgage in the U.S. fell this week for the first time in a month, but borrowing costs for homebuyers remain elevated.

The long-term rate dipped to 6.85% from 6.89% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.99%.


 
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