NEW YORK (CNNMoney)
Mortgage rates fell significantly this week amid weaker-than-expected economic reports, according to a weekly survey by Freddie Mac.
The average rate for a 30-year, fixed-rate loan, the most popular mortgage product, fell to 4.22% from 4.35% last week, Freddie Mac reported. Meanwhile, average rates on 15-year, fixed-rate loans, typically used for refinancing higher interest mortgages, dropped to 3.27% from 3.35% the week before.
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