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According to Freddie Mac, the average on the 30-year fixed-rate declined two basis points to 2.88% for the week ending Oct. 1, only two basis points above the record low from this summer.
“Affordability is resilient in the face of economic downturns, but just how resilient depends on the dynamics of mortgage rates, income and house price appreciation," Mark Fleming, chief economist at First American Title Insurance, wrote in a separate report.
