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Mortgage Rates Dip Below 3% Again, But Many Buyers Left Out

Historically low U.S. long-term mortgage rates have posted another decline, though higher prices and a lack of supply are keeping many potential buyers out of the market. So reports the Associated Press.

Freddie Mac 280x280According to Freddie Mac, the 30-year fixed-rate mortgage averaged 2.98% in the week ending November 10, a drop of 11 basis points, while the 15-year loan slid eight basis points to 2.27%.

Freddie Mac economists said a rally in Treasury bonds contributed to the decrease in mortgage rates.

Read the full article from the Associated Press.

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