Mortgage rates plunged by nearly a half-percent this week, marking the largest week-over-week decline since November 1981.
The rate on the average 30-year fixed mortgage fell to 6.61% from 7.08% the week prior, according to Freddie Mac, which this week changed its methodology calculating rates. The drop follows a sharp decline in the yield on the 10-year Treasury last week after a government showed inflation cooled last month.
The sudden decrease gave price-strained homebuyers and sellers…
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