Mortgage Rates in US Fall for Sixth Week, Dropping Closer to 7%
- Average for 30-year loans is at lowest level since August
- Steeper declines needed to reinvigorate demand, economist says
Homes in Miami, Florida.
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Mortgage rates in the US fell for a sixth straight week, slipping to the lowest level since August.
The average for a 30-year, fixed loan was 7.03%, down from 7.22% last week, Freddie Mac said in a statement Thursday.