The 30-year fixed mortgage rates declined five basis points to an average of 4.32% with an average 0.8 point in the week ending Sept. 30, according to Freddie Mac's weekly survey.

This matched the all-time record low set four weeks ago. The no-point rate, however, remained slightly above 4.50%. Frank Nothaft, the GSE's chief economist, attributed the decline to the recent flight to quality brought on partly by reduced confidence by consumers and businesses in the state of the economy. 

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