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Mortgage Rates Fall For Third Week In A Row

  • 1:07 PM EST

by UrbanTurf Staff

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Long-term mortgage rates fell for the third week in a row on Thursday. 

The 30-year fixed-rate mortgage averaged 7.18%, according to Freddie Mac’s latest survey out Thursday. That’s down from 7.24% last week and 7.47% three weeks ago.

"Mortgage rates continued their downward trajectory this week, improving the environment for prospective homebuyers against a backdrop of strong economic growth,”  said Sam Khater, Freddie Mac’s chief economist.

Despite the back-to-back declines, borrowing costs remain significantly higher than they were a year ago, when the 30-year averaged 6.22%. 

See other articles related to: mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_fall_for_third_week_in_a_row/25168.

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