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Economic Report: Mortgage rates slide as echoes of 2006 haunt the housing market

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A row of middle class houses on an American suburban street

Rates for home loans declined as bonds caught a bid, offering some breathing room for stretched home buyers.

The 30-year fixed-rate mortgage averaged 4.83% in the Nov.1 week, down 3 basis points, mortgage finance provider Freddie Mac said Thursday. The 15-year fixed-rate mortgage averaged 4.23%, down from 4.29%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.04%, a 10-basis point drop.

Fixed-rate mortgages move in line with the U.S. 10-year Treasury TMUBMUSD10Y, +0.00% note, although with a slight delay.

Bond yields tumbled late last week as investors fled to the perceived safety of fixed-income assets in the wake of a sharp stock sell-off.

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