U.S. rate on 30-year mortgage declines to 4.37 percent

Washington • Average rates on U.S. fixed mortgages declined this week as concern waned in the financial markets over the Federal Reserve’s possible slowing of its bond purchases this year. Mortgage buyer Freddie Mac said Thursday the average on the 30-year loan slipped to 4.37 percent. That’s down from 4.51 percent last week but is still near the highest level in nearly two years. Just two months ago the rate was 3.35 percent, barely above the record low of 3.31 percent. Rates had surged in rece...

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