Rate on 30-year mortgage falls to 4.80

The Seattle Times: Rate on 30-year mortgage falls to 4.80 pct.

The rate on the 30-year mortgage fell last week, staying below 5 percent. But low rates have done little to lift the struggling housing market.

Freddie Mac says the average rate on the 30-year loan declined to 4.80 percent from 4.91 percent the previous week. It hit a 40-year low of 4.17 percent in November.

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