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Mortgage Rates Fall to 5.30%, Reflecting Recession Fears
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Mortgage rates recorded their largest decline this year as investors raise their bets that the economy is headed for a downturn.
The average rate on a 30-year fixed-rate mortgage fell to 5.30%, mortgage-finance giant Freddie Mac said Thursday. That is down from 5.70% last week but far above 3.22% at the beginning of the year.
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