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NEW YORK — Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks, as concerns grow that the economy is weakening.
Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year fixed-rate loan was 4.36 percent this week, down from 4.42 percent last week. That’s the lowest since Freddie Mac began tracking rates in 1971.
Rates have fallen as investors shifted money into the safety of Treasury bonds, lowering their yield. Mortgage rates tend to track those yields.
