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US rate on 30-year mortgage back below 4 percent

Associated Press

  March 30, 2012

The average U.S. rate on the 30-year fixed mortgage fell back below 4 percent this week, staying near historic lows. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.99 percent from 4.08 percent last week. Last month, the rate touched 3.87 percent, the lowest since long-term mortgages began in the 1950s. The average rate on the 15-year fixed mortgage also fell, to 3.23 percent. That’s down from 3.30 percent last week and above the record low of 3.13 percent hit earlier this month.

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