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Average rate on 30-year mortgage falls again

Published: Thursday, Oct. 31, 2013 5:03 p.m. CDT
(Gene J. Puskar)
FILE - This March 5, 2013, file photo shows a home for sale in Mt. Lebanon, Pa. Freddie Mac reports on mortgage rates for the last week of October on Thursday, Oct. 31, 2013. (AP Photo/Gene J. Puskar, File)

WASHINGTON – Average U.S. rates on fixed mortgages fell for the second straight week and are at their lowest levels in four months.

Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year loan declined to 4.10 percent from 4.13 percent last week. The average on the 15-year fixed loan eased to 3.20 percent from 3.24 percent.

Rates have been falling since September when the Federal Reserve surprised investors by continuing to buy $85 billion a month in bonds.

The purchases are intended to keep long-term interest rates low.

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