Average US rate on 30-year fixed mortgage declines to 3.93 pct.; rates likely to surge

  • by: MARCY GORDON , AP Business Writer
  • Updated: June 20, 2013 - 9:40 AM

WASHINGTON — U.S. mortgage rates fell for the first time in seven week, keeping the average on the 30-year fixed loan just under 4 percent. But rates are expected to surge next week, as markets respond to Chairman Ben Bernanke's comments that the Federal Reserve will likely reduce its bond purchases later this year.

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