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Mortgage rates inch down this week
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Mortgage rates inched down and have held relatively steady over the past several weeks, according to [https://seekingalpha.com/pr/20269385-mortgage-rates-decrease] the latest Freddie Mac Primary Mortgage Survey.
30-year fixed-rate mortgages averaged 6.27% as of October 16, down from 6.30% last week and 6.44% in the year-ago week.
15-year fixed-rate mortgages averaged 5.52%, down from 5.53% a week ago and 5.63% a year ago.
"Importantly, homeowners have noticed these consistently lower rates, driving an uptick in refinance activity," said Sam Khater, chief economist at Freddie Mac.
"Combined with increased housing inventory and slower house price growth, these rates also are creating a more favorable environment for those looking to buy a home," added Khater.
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* Mortgage applications decline, rates fall marginally [https://seekingalpha.com/news/4504188-mortgage-applications-dip-by-4]
