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U.S. 30-Year Mortgage Rates Drop From a Two-Year High

Mortgage rates for 30-year U.S. loans declined, reducing borrowing costs for homebuyers after the biggest jump in 26 years.

The average rate for a 30-year fixed mortgage fell to 4.29 percent from a two-year high of 4.46 percent last week, McLean, Virginia-based Freddie Mac said in a statement today. The average 15-year rate dropped to 3.39 percent from 3.5 percent.