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Mortgage Rates Drop To Near 4%

The drop has surprised some experts, who expected rates to start rising once the Federal Reserve began to cut back on its purchases of treasury bonds and mortgage backed securities.

Rock-bottom mortgage rates moved even lower this week.

According to Freddie Mac the interest rate for a 30-year fixed rate loan hit an average of 4.12-percent.

The rate has not been that low since October of last year when it was 4.10-percent.

The drop has surprised some experts, who expected rates to start rising once the Federal Reserve began to cut back on its purchases of treasury bonds and mortgage backed securities.

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