Rates on 30-, 15-Year Mortgages Dip
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The average interest rate on a 30-year, fixed-rate mortgage dipped to 5.86% from 5.88% last week, mortgage company Freddie Mac reported.
For 15-year fixed-rate mortgages, a popular option for refinancing, rates edged down to 5.26% from 5.27% last week. Rates for one-year adjustable-rate mortgages stood at 3.89% this week.
The rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried an average fee of 0.6 point this week, while one-year ARMs had an average 0.7-point financing fee.
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