U.S. rate on 30-year mortgage falls to 4.29 percent

Average U.S. rates on fixed mortgages eased this week after last week’s surge, declines that could prompt homebuyers to act quickly before rates rise further. Freddie Mac says the average on the 30-year loan dropped to 4.29 percent. That’s down from 4.46 percent last week, the highest in two years and a full point more than a month ago. The average on the 15-year mortgage fell to 3.39 percent, down from 3.50 percent last week — the highest since August 2011. Mortgage rates jumped last week after...

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