Mortgage Rates Drop for Second Week
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The average interest rate on 30-year fixed-rate mortgages dipped to 6.11% this week from 6.13% last week, mortgage company Freddie Mac reported.
Rates for 15-year fixed-rate mortgages, a popular option for refinancing, dropped to 5.48% from 5.51% last week.
For one-year adjustable-rate mortgages, rates dipped to 4.15% from 4.25% last week.
These rates do not include add-on fees known as points. The loans carried an average fee of 0.6 point for the 30-year and 15-year mortgages and 0.7 point for the one-year ARMs.
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