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Low mortgage rates have contributed to an active housing market over the last several months, with markets across the country recording skyrocketing home prices.
Freddie Mac, the popular loan company that surveys weekly mortgage data, has reported low 30-year fixed rates since the onset of the pandemic.
In July, for the first time ever, Freddie Mac said that the average 30-year fixed rate fell below 3% to 2.98%— a .83% drop from the same time last year.
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