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Mortgage Rates Tick Higher But Stay Far Below a Year Ago

Thursday, Feb 27 2020
Lending
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Mortgage rates edged upward for a second consecutive week, according to Freddie Mac data. But, as the Associated Press reports, rates are still historically low, juicing home sales.

The 30-year fixed-rate mortgage averaged 3.49% during the week that ended February 20, up from 3.47% the previous week but still down significantly from 4.35% a year ago.

Mortgage rates generally track the yield on the 10-year Treasury note, which has fallen this year as investors, worried about the coronavirus, have turned to U.S. Treasury securities for safety.

Read the full article from the Associated Press. 

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