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3.98: Mortgage Rates Change Little
This morning, Freddie Mac reported 3.98 percent with an average 0.7 point as the average on a 30-year fixed mortgage.
Rates changed very little since last week’s average of 3.99. Last month, they crept up to 4.08, going above four for the first time since October 2011.
From Freddie Mac vice president and chief economist Frank Nothaft:
Average weekly mortgage rates were little changed this week amid mixed signals on the health of the economy. The final estimate of 2011 fourth quarter growth remained unchanged at 3 percent, representing the strongest pace since the second quarter of 2010. The March 13th policy committee minutes from the Federal Reserve noted that the housing market remained depressed and supported the continuation of the maturity extension program through June 2012, but did not announce any new stimulus action beyond that date.
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