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Rates on 30-year mortgages dipped slightly this week, the fifth decline in the past six weeks.Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.67 percent this week, down from 5.68 percent last week.The 30-year mortgage, which ended last year at 6.17 percent, has been below 6 percent for five weeks, a stretch that has not been seen since 2005.Analysts attributed the declines in mortgage rates to growing fears that the country could be slipping into a recession."Economic news released in the past week showed that the economy continues to be weak," said Frank Nothaft, chief economist for … (4 comments)
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