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Mortgage Rates Fall for a Third Week, to 7.18 Percent
The average 30-year fixed mortgage rate fell to 7.18 percent this week from 7.24 percent, its third weekly decline, and the 15-year to 6.57 percent from 6.60 percent, Freddie Mac said November 5. A year ago the 30-year averaged 6.22 percent. The survey was taken before Friday's strong jobs report, which pushed Treasury yields up, so next week's average may not keep falling. Freddie Mac's averages assume strong credit and 20 percent down; compare Loan Estimates from several lenders.
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