Mortgage rates down on economic news

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Rates for 30-year fixed-rate mortgages for the week ending Sept. 4 averaged 6.35 percent with an average 0.7 point, down from 6.40 percent last week and 6.46 percent a year ago, Freddie Mac said in its weekly Primary Mortgage Market Survey.

Mortgage rates eased following release of economic data that suggested consumer spending may slow, said Frank Nothaft, Freddie Mac vice president and chief economist.