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Mortgage Rates for 30-Year Loans Tumble, Matching Record

Mortgage rates for 30-year U.S. loans tumbled, matching the lowest level on record and keeping borrowing costs down as the real estate market improves.

The average rate for a 30-year fixed mortgage fell to 3.49 percent in the week ended today from 3.55 percent, Freddie Mac said in a statement. It matched a record reached in July. The average 15-year rate slid to 2.77 percent from 2.85 percent, a new low, according to the McLean, Virginia-based company.