Business briefs: Mortgage rates are lowest on record

Rates on 30-year mortgages fell this week to the lowest level on record after the Federal Reserve launched a renewed effort to aid the U.S. housing market.
Mortgage bridging finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.85 percent this week, from 4.98 percent last week.


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