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Freddie Mac: Mortgage rates drop slightly; average 30-year at 3.65%
Freddie Mac: Mortgage rates drop slightly; average 30-year at 3.65%

Mortgage rates have dropped slightly, Freddie Mac's survey of lenders shows, with the average for a 30-year fixed home loan at 3.65%, down from 3.67% in last week's report.  The average rate for a 15-year fixed mortgage edged down from 2.94% to 2.92%, and the start rate for a home loan that adjusts annually fell to 2.44% from 2.46%. The weekly report, released Thursday, is the fifth in a row to show the benchmark 30-year loan leveled off at less than 3.75%, remarkably cheap home financing by historical standards. The issue for many borrowers has been qualifying for the favorable rates. Banks generally have kept credit standards tighter than required for loans...

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