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WASHINGTON, DC-Mortgage rates this week dropped to the lowest level on record. As a result of the weak economy in the US, mortgage rates have been pushed down even further.

According to Freddie Mac, the average rate for a 30-year fixed loan shot down to 4.44% this week, a decline from 4.49% last week marking the lowest rate Freddie Mac’s experienced since it began monitoring mortgage rates in 1971. For the full story, go to Chicago Sun Times.

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