US mortgage rates fall to record lows; 30-year at 2.98%
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July 16, 2020 10:03 AM
WASHINGTON (AP) — Average rates on long-term mortgages continue to fall to new record lows, as the key 30-year loan dropped below 3% for the first time in 50 years. The stagnant economic recovery in the face of the coronavirus pandemic is keeping inflation tamped down despite pent-up homebuying demand.
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