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Mortgage Rates Tumble Back to Three-year Low

The 30-year fixed-rate mortgage averaged 3.60% last week, dropping sharply from 3.75% a week earlier and returning to its lowest since November 2016, said Freddie Mac. So reports the Associated Press.

Likewise, the 15-year fixed rate averaged 3.05% in the week that ended August 8, down from 3.20%.

The steep declines came as the escalating U.S.-China trade war roiled financial markets.

Read the full article from the Associated Press.

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