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Today's Market

    The Federal Reserve earlier this week began purchasing $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac and Ginnie Mae to help lower mortgage costs.

Freddie Mac reported that the U.S. average rate on a 30 yr. mortgage dropped the 10th straight week to the lowest on record. The fixed rate dropped to 5.01% from 5.10% a week earlier, Freddie Mac said. That's the lowest in data that dates back to 1971.