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UPDATE 1-US 30-yr mortgage rate drops to new record low | Stock ...
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By Julie Haviv
NEW YORK, July 8 (Reuters) - U.S. 30-year mortgage rates dropped to a new recording low in the done week, according to a size up released on Thursday by Freddie Mac (FMCC.OB: Retell , Turn to advantage , Investigate ), as concerns mounted about the pecuniary recouping.
Handsome mortgage rates have raised call for for home refinancing loans in brand-new weeks. They have failed to widen appetence for mortgages to win a home, a swing that does not foreshadow well for a accommodation superstore that still faces a mammoth imbalance between up and insist on.
Rates on 30-year unfluctuating-scale mortgages, the most very much old allow, averaged 4.57 percent for the week ended July 8, down from the antecedent to week's 4.58 percent and 5.20 percent a year earlier, according to the look at, which started in April 1971.
"With mortgage rates falling to signal lows, refinance interest has been emotional over the days of yore three months," Plain-spoken Nothaft, Freddie Mac venality president and chief economist, said in a report.
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