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Mortgage rates fall to 3 year low

WASHINGTON, Oct. 5 (UPI) -- Freddie Mac on Friday said long-term mortgage rates fell for the fifth consecutive week during the week ending Oct. 5 to their lowest level in three years. Freddie Mac said the average rate on the popular 30-year loan to homebuyers fell to 6.64 percent -- its lowest level since lenders were offering the loan at 6.49 percent during the week ending Oct. 9, 1998.

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