Homebuyers saw a glimmer of relief last week as US mortgage rates eased off two-decade highs, offering a spark of life to the beaten-down housing market.The average contract rate on 30-year fixed mortgages dropped to 6.9 percent last week, from 7.14 percent the prior week, the Mortgage Bankers Association said on Wednesday.Mortgage rates dropped following data indicating is slowing faster than many expected, spurring hopes that the will slow its aggressive policy rate hikes, which have roiled the housing market.
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