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Freddie Mac: Mortgage rates hit low for year; 30-year averages 4.21%
Freddie Mac: Mortgage rates hit low for year; 30-year averages 4.21%

Mortgage rates tumbled to their lowest level of 2014 on weak economic news, with Freddie Mac's survey showing the average rate for a 30-year fixed home loan was 4.21% early this week, down from4.29% a week ago. The cost of financing for homeowners looking to pay off housing debts faster fell as well, Freddie Mac said. Lenders were offering 15-year fixed loans to solid borrowers at an average of 3.32%, down from last week’s 3.38%. Janet Yellen, the head of the Federal Reserve, sounded upbeat about the economy this week as she looked ahead, although she noted that housing markets remained weak.  But the rear-view mirror showed a different and troubling picture. The...

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