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Business Briefing / Mortgages

Rate falls for 30-year fixed loans

February 13, 2009|Times Wire Reports

The average rate on a 30-year fixed mortgage fell this week as lawmakers negotiated an economic stimulus plan to revive the U.S. economy and resuscitate the housing market.

The rate fell to 5.16% from 5.25% a week earlier, mortgage buyer Freddie Mac said. The rate fell to 4.96% the week of Jan. 15, the lowest on record.

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