Rates on Mortgages Drop in Latest Week
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Rates on 30-year, fixed-rate mortgages declined to 5.68% this week from 5.71% last week, mortgage company Freddie Mac reported.
Rates on 15-year, fixed-rate mortgages, a popular option for refinancing, sank to 5.11% from 5.14% last week. But one-year adjustable rate mortgages rose to 4.18%, up from last week’s 4.15%.
The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried fees averaging 0.6 point. One-year ARMs carried a 0.7-point fee.
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