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Thirty-year mortgage rate drops to another record low

Posted by Bonnie Martin Designated Broker on Friday, July 13th, 2012 at 8:36am.

WASHINGTON (AP) – Average rates on fixed mortgages fell again to record lows, giving would-be buyers more incentive to brave the housing market.

Mortgage buyer Freddie Mac says the average rate on the 30-year loan fell to 3.56%. That's down from 3.62% last week and the lowest since long-term mortgages began in the 1950s.

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