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Average long-term US mortgage rate drops to 6.77%, the lowest level since early May

Average long-term US mortgage rate drops to 6.77%, the lowest level since early May

The average rate on a 30-year U.S. mortgage fell to its lowest level since early May, an encouraging trend for prospective homebuyers at a time when the U.S. housing market remains largely held back by elevated borrowing costs and rising prices

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