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Freddie Mac: Mortgage rates hold steady; 30-year averaging 4.12 percent

Mortgage rates are moving fast in one direction this summer -- sideways. Freddie Mac's weekly survey, out Thursday, showed the average rate for a 30-year fixed-rate home loan was 4.12 percent, practically unchanged from last week's 4.13 percent. At that rate, a borrower with a $300,000 mortgage would have to pay $1,454 a month in principal and interest. In the month before the latest surveys, Freddie reported the following averages for the 30-year loan, the most widely used home-financing option: 4.13 percent, 4.15 percent, 4.12 percent and 4.14 percent. The survey by the government-sponsored mortgage finance firm asks lenders about the terms they are offering to low-risk borrowers ...

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