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Wealth
Economics

US Mortgage Rates Plunge to 5.3% in Biggest Drop Since 2008

  • Drop provides ‘minor relief’ to buyers, Freddie’s Khater says
  • Borrowing costs are at the lowest level in about a month
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Mortgage rates in the US posted the biggest one-week decline since 2008.

The average for a 30-year loan fell to 5.3%, the lowest in a month and down from 5.7% last week, Freddie Mac said in a statement Thursday.