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WASHINGTON (AP) - Rates on 30-year mortgages edged lower for the third week out of the past four, reflecting further evidence that slower economic growth will help keep inflation in check.
Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.15 percent nationwide this week, down slightly from 6.16 percent last week. The low for the year was 6.14 percent in early March.
Rates have fallen in three of the past four weeks with the latest decline attributed to a weaker-than-expected jobs report which showed just 88,000 jobs were created in April.
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