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WASHINGTON (AP) - Rates on 30-year mortgages held steady this week near their low point for the year, reflecting the slowdown in economic growth.
Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.16 percent nationwide this week, unchanged from last week. That level is near the low for the year of 6.14 percent for 30-year mortgages in early March.
Rates had fallen for two straight weeks before holding steady this week. Analysts said investors interpreted the recent report on economic growth as further evidence that the slowing economy will relieve pressures on inflation.
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