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Mortgage rates fell below 6% this week for the first time in three and a half years, mortgage buyer Freddie Mac said Thursday. The average rate on a 30-year loan was 6.85% a year ago. Some experts say that if the mortgage "lock-in effect" doesn't ease, lower rates could reignite competition in the market and lead to a spike in prices. LiveNOW's Mike Pache discussed what the rate drop means for prospective home buyers and sellers with Alisa Wolfson from MarketWatch. Subscribe to LiveNOW from FOX! https://www.youtube.com/livenowfox?su... Where to watch LiveNOW from FOX: https://www.livenowfox.com Follow us @LiveNOWFOX on TikTok: / livenowfox Raw and unfiltered. Watch a non-stop stream of breaking news, live events and stories across the nation. Limited commentary. No opinion. Experience LiveNOW from FOX. Live news streaming channel when and where you need it.