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

U.S. mortgage rates fell, reducing borrowing costs for homebuyers after the 30-year average jumped to a two-year high last week.

The average rate for a 30-year fixed mortgage dropped to 4.37 percent in the week ended today from 4.51 percent, which was the highest since July 2011, McLean, Virginia-based Freddie Mac said in a statement. The average 15-year rate slipped to 3.41 percent from 3.53 percent.