US 30-year loan rate falls to 4.31%

rate dropBy MARCY GORDONAP Business Writer
Thu Jul 25, 2013

WASHINGTON Average rates on U.S. fixed mortgages fell for the second straight week, a welcome sign for home buyers hoping to lock in lower rates that had spiked earlier this month.

Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan fell to 4.31 percent. That’s down from 4.37 percent last week but nearly a full percentage point higher than in early May.

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