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Housing Markets

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Following a sharp spike in early March, long-term mortgage rates have edged back down in recent weeks, and 30-year rates are now lower than the 7.08% March average. Despite the jump earlier this year, the defining trend since early 1997 has been toward lower long-term mortgage rates.

Suggested citation: "Housing Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-05, pp. 15-17, 05.01.1999.

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