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November 17, 2023

Mortgage rate dips down to 7.44%

LOS ANGELES (AP) — The average rate on the benchmark 30-year home loan fell for the third week in a row, welcome news for house hunters facing a market held back by persistently high prices and a near-historic low number of homes for sale.

The latest decline brought the average rate on a 30-year mortgage down to 7.44% from 7.5% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.61%.

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