Mortgage rates bounce off lows

Freddie Mac: Applications up last week

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Rates on mortgages eligible for purchase by Freddie Mac bounced back slightly from last week’s record lows, but remain well under 5 percent.

The 30-year fixed-rate mortgage averaged 4.84 percent with an average 0.7 point this week, up from 4.78 percent a week ago but down from 6.05 percent a year ago, Freddie Mac said in releasing results of its weekly survey of lenders.