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WATCHING THE TROPICS

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Mortgage rates hit lowest rate since October

Mortgage rates are at their lowest level since October.
Freddie Mac says the average rate for a 30-year, fixed-rate loan fell to 4. 1-4 percent last week.
   
Lower mortgage rates however have not boosted the housing market.
According to mortgage bankers association stats, applications for mortgages used to purchase homes have been running about 10-percent behind the pace of a year ago.