US average mortgage rates tick lower; 30-year loan at 2.96%

Mortgage buyer Freddie Mac said Thursday the average for the 30-year rate loan dipped to 2.96% from 2.99% last week. In the latest economic news, the government reported that the number of Americans seeking unemployment benefits dropped last week for the sixth straight week, to 376,000, a new pandemic low. “Despite the stronger economy, the housing market is experiencing a slowdown in purchase application activity due to modestly higher mortgage rates,” said Sam Khater, Freddie Mac’s chief economist.

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