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30-year rate falls to record 3.78%

Updated: July 3, 2012 9:33AM



The average U.S. rate for the 30-year fixed mortgage fell to a record low for a fourth straight week. Cheap mortgages have helped boost home sales modestly this year.

Mortgage buyer Freddie Mac says the rates on the 30-year loan dipped to 3.78 percent. That’s down from 3.79 percent last week and the lowest since long-term mortgages began in the 1950s.



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