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Mortgage Rates Drift Lower as Economic Concerns Linger 

Aug 28, 2008By

Economic concerns continued to help mortgage rates in the past week, according to data released Thursday by Freddie Mac [stock FRE][/stock]. The GSE said that its weekly mortgage market survey found 30-year fixed-rate mortgages averaged 6.40 percent with an average 0.6 point for the week ending Aug. 21, down 7 basis points from last week. Last year at this time, the 30-year FRM averaged 6.67 percent.

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