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Home prices in car-dependent neighborhoods are rising faster than those in walkable neighborhoods, a trend likely the result of many homebuyers getting priced out of the most walkable neighborhoods, real estate site Redfin reported Aug. 29. Philadelphia and Cleveland saw the greatest annual growth in car-dependent neighborhoods.
Mortgage rates during the past week dropped to their lowest levels in nearly three years due to weakening economic data, namely ongoing pressure on manufacturing and trade, Freddie Mac reported Sept. 5 in its Primary Mortgage Market Survey. However, the survey noted that economic fundamentals are still solid.
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