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WASHINGTON (AP) — Long-term U.S. mortgage rates edged slightly lower this week.
Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages slipped to 4.52 percent from 4.53 percent last week.
Despite the decline in recent weeks, long-term loan rates have been running at their highest levels in seven years. The average benchmark 30-year rate reached a high this year of 4.66 percent on May 24. The rate stood at 3.96 percent a year ago.
The average rate on 15-year, fixed-rate loans ticked down to 4.00 percent this week from 4.02 percent last week.
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