Mortgage rates reverse course

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After posting their largest weekly increase in 26 years last week, mortgage rates reversed course, with the average rate of a 30-year fixed-rate mortgage sliding to 4.29 percent for the week ending July 3, down from 4.46 percent last week, but up from 3.62 percent a year before, according to Freddie Mac’s latest Primary Mortgage Market Survey. Source: Freddie Mac