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Freddie Mac: Average 30-year mortgage rate slips to 3.97%
Freddie Mac: Average 30-year mortgage rate slips to 3.97%

Low mortgage rates are on the holiday menu for home buyers, with lenders surveyed by Freddie Mac offering 30-year fixed-rate home loans this week at an average of 3.97%, down from 3.99% a week ago. The average 30-year rate, which started 2014 at 4.5%, has been below 4% for five of the last seven weeks, according to Freddie Mac, which has published weekly reports on the 30-year loan since 1971.   The latest survey from the bailed-out finance giant, released Wednesday, showed the average rate for a 15-year fixed mortgage was the same as last week, 3.17%. Start rates for adjustable loans also were unchanged.   Freddie Mac’s chief economist, Frank Nothaft, described...

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