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Mortgage rates begin to dip, largest drop since 2008

Mortgage Rates
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(KERO) — Mortgage rates keep falling but remain much higher than a year ago.

Freddie Mac says the average rate for a 30-year fixed mortgage is 6.33 percent. That's down from nearly 6.5 percent from last week and down around three-quarters of a percent from four weeks ago. The decline in rates over the last month has been the largest drop since 2008.

A spokesperson for Freddie Mac says lower rates have created no positive reaction among potential homebuyers. Mortgage rates a year ago stood at 3.1 percent.



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