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US mortgage rates fall below 3% for first time since February as housing market cools

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The headline mortgage rate’s plunge below 3% last year was a big deal. It added fuel to a housing market boom that continues to this day.

The rate climbed back above 3% earlier this year, but now it’s sinking once again as the buying spree hits new snags. That could give potential buyers at least a little help as home prices sit at record highs.

The average 30-year fixed mortgage rate fell to 2.97% from 3.04% this week, Freddie Mac said in a Thursday press release. The reading marks a third weekly decline and places the details ⇒

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