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Home sales fall, mortgage rates little changed

USA Today - Oct 20, 2011

The number of Americans who bought previously occupied homes fell in September despite the lowest mortgage rates in decades.

Home sales are on pace to match last year's dismal figures — the worst in 13 years.

The average rate on 30-year fixed mortgages was nearly unchanged this week after rising last week.

Freddie Mac says the average rate on 30-year loans edged down to 4.11% from 4.12% last week. The week before, it fell to 3.94%, lowest rate ever, according to the National Bureau of Economic Research.

The average rate on the 15-year fixed mortgage ticked up to 3.38 percent from 3.37 percent. It hit a record-low of 3.26 percent two weeks ago.

Read Full Article from USA Today

- Posted: 2011-10-20 14:20:41


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