detroitnews.com — Average U.S. rates on fixed mortgages fell to fresh record lows for the second straight week. The declines suggest the Federal Reserve's stimulus efforts are having an impact.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.36 percent. That's down from last week's rate of 3.40 percent, which was the lowest since long-term mortgages began in the 1950s.
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