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2026.11.0412:52:18UTC+00US Mortgage Rates Decrease for 3rd Week

The average rate on a 30-year fixed mortgage in the US fell to 7.3% in the week ending October 30, the third straight weekly decline, according to the Mortgage Bankers Association. The drop in borrowing costs, which followed a decrease in Treasury yields, offered some relief to prospective homebuyers and homeowners considering refinancing. Nonetheless, overall mortgage application volume slipped 1.2% from the prior week. Applications for home purchases fell 2%, while applications to refinance existing loans inched up 0.1%.

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