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Mortgage rates fall to record lows for the 11th time this year, but new challenges for first-time buyers remain – MarketWatch

Home price gains continue to outpace wage growth, and low interest rates aren’t helping a whole lot.

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Mortgage rates continue to trend downward as the realities
of the coronavirus pandemic and uncertainty surrounding the upcoming
presidential election put pressures on the market.The 30-year fixed-rate mortgage averaged 2.8% for the week ending Oct. 22, falling one basis point from the record low set just the week prior, Freddie Mac FMCC
FMCC,
  reported Thursday. The new record low stands nearly a full percentage point below where rates were a year ago. During this same time in 2019, these loans…

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