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US Mortgage Rates Dip to 5.3% in First Decline Since Early July

  • Higher rates leading to ‘deflated’ sales activity, Khater says
  • Rates are still up from the 3.11% level at 2021’s end
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US Economy Damping Real Estate Market More Than Rates: Douglas Elliman's Lorber

Mortgage rates in the US dropped for the first time in three weeks. 

The average for a 30-year loan slipped to 5.3% from 5.54% last week, Freddie Mac said Thursday in a statement. That’s a level last seen the week of July 7.