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The Boston Globe

Business

Mortgage rates reverse their rise

WASHINGTON — Average rates on fixed mortgages fell this week after last week’s surge. Freddie Mac said the average on the 30-year loan dropped to 4.29 percent from 4.46 percent last week, the highest in two years and a full point more than a month ago.

The average on the 15-year mortgage fell to 3.39 percent, down from 3.50 percent last week — the highest since August 2011.

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