News Summary: US rate on 30-year loan at 4.31 pct.

News Summary: US average rate on 30-year mortgage declines to 4.31 pct.; 15-year at 3.39 pct.

Associated Press

RATES DECLINE: Average rates on U.S. fixed mortgages fell for the second straight week, a welcome sign for homebuyers hoping to lock in lower rates that had spiked earlier this month.

THE NUMBERS: Mortgage buyer Freddie Mac says the average on the 30-year loan declined to 4.31 percent, down from 4.37 percent last week. The average on the 15-year fixed loan fell to 3.39 percent, down from 3.41 percent last week

STILL HISTORICALLY LOW: Rates remain low by historical standards, though they have risen in recent weeks after the Federal Reserve indicated it might slow its bond purchases later this year.

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