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30-Year mortgage rates retreat for first time in 5 weeks
U.S. mortgage rates declined for the first time in five weeks, helping propel a measure of home-purchase applications to the highest in a month.
The contract rate on a 30-year fixed mortgage fell 8 basis points to 6.71%, according to Mortgage Bankers Association data released Wednesday. The group’s index of mortgage applications for the purchase of a home increased 7.3% to 165.6, the highest…