US Mortgage Rates Retreat to 6.23%, Lowest in Four Months
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US mortgage rates fell to a four-month low last week, supporting more home purchases and refinancing.
The contract rate on a 30-year fixed mortgage decreased 19 basis points to 6.23% in the week ended Jan. 13, according to Mortgage Bankers Association data released Wednesday. That helped boost total applications by nearly 28% in the week, though the data can be volatile around major holidays.