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30-year mortgage rates drop from last year to 6.53%
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30-year mortgage rates drop from last year to 6.53%
According to Freddie Mac’s latest Primary Mortgage Market Survey, the average 30-year fixed-rate mortgage fell to 6.53% for the week ending May 28, down from 6.89% during the same period last year. While the annual drop is a positive sign for affordability, the market remains highly reactive. The current average reflects a minor week-over-week uptick from 6.51%, driven by persistent inflation and recent macroeconomic pressures, News.Az reports, …
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