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US 30-year fixed mortgage rate falls for second straight week to 7.24%, driven by retreating Treasury yields
US mortgage rates fell for the second straight week, with the average 30-year fixed rate dropping to 7.24% from 7.32% last week and 7.40% two weeks ago, according to Freddie Mac. The decline follows a retreat in 10-year Treasury yields, partly driven by investors shifting from technology stocks into government bonds. However, mortgage rates remain more than one percentage point above year-ago levels, weighing on housing affordability and demand.
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