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Mortgage rates fall to lowest level in just over two weeks

Mortgage rates dropped as bond yields fell further, helped by Iran-related headlines and lower oil prices.

Reported · Written up by our desk · Mortgages

Mortgage News Daily reports mortgage rates moved lower again after the prior session showed weaker correlation with the bond market.

The outlet says bonds rallied, meaning higher bond prices and lower yields, and that lenders became more willing to match the market following additional bond gains tied to Iran-related headlines and lower oil prices.

The net effect is that the average 30-year fixed mortgage rate is now down to the lowest levels in just over two weeks.

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