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US 30-year mortgage rate falls to 6.58%, lowest since October, homebuyers get relief

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US 30-year mortgage rates have dipped to 6.58%, a 10-month low, boosting homebuyer purchasing power amid a slow housing market. This decline, influenced by economic data and market expectations, has spurred a jump in mortgage applications, particularly for refinancing and adjustable-rate mortgages. Economists anticipate rates will remain above 6% for the year.
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