"The average rate for a 30-year fixed loan dropped to 3.98 percent in the week ended today from 4 percent, Freddie Mac (FMCC) said in a statement. It reached 3.94 percent last month, the lowest in Freddie Mac records dating to 1971. The average 15-year rate fell to 3.30 percent this week from 3.31 percent, according to the McLean, Virginia-based mortgage-finance company."

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