Mortgage rates stay in the basement

Mortgage rates sagged this week as ongoing concerns about the European debt crisis had investors fleeing to the relative safety of mortgage-backed securities that fund most U.S. home loans.

Rates on 30-year fixed-rate mortgages averaged 4 percent with an average 0.7 point for the week ending Nov. 3, down from 4.1 percent last week, Freddie Mac said in releasing the results of its latestPrimary Mortgage Market Survey.

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