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Average fixed mortgage rates moved back down this week after last week’s uptick.
The average rate on a 30-year, fixed-rate mortgage was 4.20 percent this week, down from 4.23 percent last week, Freddie Mac said in its weekly survey. Rates had hit a four-month high last week.
Meanwhile, the average rate on a 15-year, fixed-rate mortgage was 3.36 percent, compared with 3.37 percent last week.
Mortgage markets had a number of reports to digest this week. Sales of existing homes fell last month, while new-home sales improved. Also, there was more evidence of slowing growth in home prices.