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US average mortgage rates rise slightly; 30-year at 2.88%


WASHINGTON (AP) — Average long-term mortgage rates were marginally higher this week as the recovering economy appeared stalled against the backdrop of a wave of new delta variant coronavirus cases. They remained under 3%. Mortgage buyer Freddie Mac says the average rate for a 30-year mortgage edged up to 2.88% from 2.87% last week. The rate for a 15-year loan ticked up to 2.19% from 2.18% last week. Concern continues to swirl that the highly contagious delta variant could cause the economic recovery from the pandemic to sputter by reducing employment and dampening consumer spending.

Article Topic Follows: AP National Business

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