Fixed mortgage rates drop for 8th straight week

Fixed mortgage rates drop for 8th straight week

Fixed mortgage rates dropped for the eighth straight week, low rates have done little to boost the struggling housing market.

Freddie Mac says the average rate on the 30-year loan fell to 4.49 percent from 4.55 percent. The average rate on the 15-year fixed mortgage, a popular refinance option, slipped to 3.68 percent from 3.74 percent. Both are lows for the year.

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