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Long term mortgage rates ease

WASHINGTON, Jan. 4 (UPI) -- Freddie Mac said Friday long term mortgage rates eased slightly during the latest reporting week amid a feeling in the market the nation's economy may have bottomed out and recovery is in sight. Freddie Mac said the average rate on the popular 30-year loan to homebuyers slipped to 7.14 percent from 7.16 percent last week and the 7.17 percent level lenders were asking two weeks earlier.

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