U.S. mortgage rates have fallen to their lowest levels in nearly a year, according to Freddie Mac, with buyers seeking to capitalize on the decline.

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Freddie Mac noted that the 30-year fixed-rate mortgage (FRM) fell to 6.35% as of Thursday, down from 6.5% the previous week, marking the largest weekly decline in the past year.

A year ago, the 30-year FRM averaged 6.2%, according to the government-sponsored enterprise.

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