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Article updated: 2/28/2013 10:48 AM

U.S. rate on 30-year mortgage declines to 3.51 pct.

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Average U.S. rates on fixed mortgages moved closer to historic lows this week, a trend that has helped drive a rebound in home sales.

Associated Press

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Average U.S. rates on fixed mortgages moved closer to historic lows this week, a trend that has helped drive a rebound in home sales. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed mortgage declined to 3.51 percent from 3.56 percent last week. That’s near the 3.31 percent rate reached in November, the lowest on records dating to 1971.