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20

U.S. Mortgage Rates Drop to Five-Month Low With 30-Year at 3.97%

By Tony Seruga

U.S. mortgage rates dropped for a fifth week, sending home-loan costs down to their lowest point since the week after the presidential election.

The average rate for a 30-year fixed mortgage was 3.97 percent, down from 4.08 percent last week and the lowest since November, Freddie Mac said in a statement Thursday. The average 15-year rate decreased to 3.23 percent from 3.34 percent, the McLean, Virginia-based mortgage-finance company said.

Yields for the Treasuries that guide mortgage costs have dropped on investor expectations that an economy under President Donald Trump won’t be as robust as anticipated, according to Guy Cecala, publisher of the newsletter Inside Mortgage Finance…

U.S. Mortgage Rates Drop to Five-Month Low With 30-Year at 3.97%

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