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30-year mortgage rate dips to 2.87%

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30-year mortgage rate dips to 2.87%

October 9, 2020
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30-year mortgage rate dips to 2.87%
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story.lead_photo.captionA for sale sign stands in front of a house, Tuesday, Oct. 6, 2020, in Westwood, Mass. U.S. long-term mortgage rates changed little this week, flattening in recent weeks following a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. (AP Photo/Steven Senne)

WASHINGTON — U.S. long-term mortgage rates changed little this week, flattening in recent weeks after a yearlong decline amid economic anxiety in the recession set off by the coronavirus pandemic. Home loan rates have remained at historically low levels.

Mortgage buyer Freddie Mac — the Federal Home Loan Mortgage Corp. — reported Thursday that the average rate on the 30-year loan eased to 2.87% from 2.88% last week. By contrast, the rate averaged 3.57% a year ago.

The average rate on the 15-year fixed-rate mortgage ticked up to 2.37% from 2.36%.

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