Long-term mortgage rates fell slightly this week in anticipation of the Federal Reserve's upcoming meeting, according to surveys conducted by mortgage buyer Freddie Mac and Bankrate. In Freddie Mac's weekly survey, the 30-year fixed-rate mortgage averaged 6.25 percent for the week ended today, down from last week when it averaged 6.32 percent. The average for the 15-year fixed-rate mortgage this week is 5.64 percent, also down from last week when it averaged 5.7 percent. Points on both the 30- and 15 year averaged 0.6. One-year Treasury-indexed adjustable-rate mortgages averaged 4.13 percent this week, with an average 0.7 point, unchanged from last week. "This week's easing off in mortgage rates is rooted in the market's wait-and-see posture with regard to the Federal Reserve Board's upcoming actions on interest rates this year starting with their meeting at the end of June," said Frank Nothaft, Freddie Mac vice president and chief economist. "Mortgage rates have been remarkably...
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