Mortgage rates declined for the third straight week and are within five basis points of the spring record low of 4.78% on 30-year fixed rates. Meanwhile, 15-year fixed rates set a new record low this week.

Freddie Mac reported an eight basis point decline in 30-year fixed mortgage rates to 4.83%, with an average 0.7 point for the week ending Nov. 19. The 15-year rates slipped four basis points to 4.32%.

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