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Mortgage Rates 2.75%

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Mortgage rates dropped to an all-time low last week as the benchmark 10-year U.S. Treasury note, which tends to influence the direction of mortgage rates, posted a record-setting decline. The interest rate for the 10-year Treasury stood at 0.76% Friday afternoon—it had never before dropped below 1.1%—while Freddie Mac reported that the interest rate for the 30-year fixed-rate mortgage dipped to 3.29% for the week ending March 5.

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