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Mortgage rates fall after increasing for three straight weeks

November 7, 2019

Mortgage rates dropped in the past week after rising in six of the last nine weeks, including most of the month of October.

The 30-year fixed-rate mortgage averaged 3.69% during the week ending Nov. 7, down three basis points from the previous week, Freddie Mac FMCC, -0.35% reported Thursday.

The rate on the 30-year mortgage is over a full percentage point lower than it was at this same time a year ago, when rates averaged 4.94%.

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