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Mortgage Rates Sink to Lowest Since February

Mortgage rates have fallen to their lowest since February amid growing skepticism about the health of the economy’s rebound from COVID-19. So reports MarketWatch.

arrow 24112 640 smallAccording to Freddie Mac, the average on the 30-year fixed-rate for the week ending July 8 was 2.9%, versus 2.98% the week earlier (and above 3% before that).

“While longer-term changes in rates are likely to be to the upside, the shift in the market’s outlook suggests that rates have little reason to move sharply higher anytime soon," Zillow economist Matthew Speakman told MarketWatch.

Read the full article from MarketWatch.

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