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Article: Rates on 30-Year Mortgages Fall
- Article from:
- AP Online
- Article date:
- February 8, 2007
CopyrightCopyright 2007 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
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WASHINGTON - Rates on 30-year mortgages fell for the first time since early December as lower-than-expected job growth eased worries in financial markets about inflation.
Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.28 percent this week, down from 6.34 percent last week. Last week's level had been the highest for mortgages since October.
The small decline was the first drop in rates since Dec. 7 when 30-year mortgages had fallen to 6.11 percent, the lowest level since early 2006.
The decline this week came after a government report showed that the unemployment rated edged up to 4.6 percent in January when a fewer-than-expected 111,000 jobs ...