Latest mortgage news: Rates fall below 4%

The 15-year fixed-rate mortgage fell to 3.21 percent from 3.31 percent a week ago. The 5/1 adjustable-rate mortgage fell to 3.53 percent from 3.8 percent (with the caveat that many lenders have shifted to the 5/6 ARM). Meanwhile, the Federal Reserve has begun its long-anticipated “taper” of asset purchases, and the Fed has since said it might accelerate the pace of the taper.

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