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January 24, 2020
WASHINGTON (AP) — U.S. long-term mortgage rates fell this week to their lowest level in three months, deepening the incentive for prospective homebuyers although they face eroded affordability as prices continue to climb.
Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year fixed-rate mortgage declined to 3.60% from 3.65% last week. The benchmark rate stood at 4.45% a year ago.
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