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by CareyBot

Long-term mortgage rates held steady this week as oil prices dropped, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 5.71 percent for the week ended today, unchanged from last week. The average for the 15-year fixed-rate mortgage dipped slightly to 5.3 percent, down from last week's 5.32 percent average. Points on both the 30- and 15-year averaged 0.6. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.24 percent this week, with an average 0.6 point, down from last week when it averaged 5.3 percent. The one-year Treasury-indexed ARM averaged 4.45 percent this week, with an average 0.7 point, down from last week when it averaged 4.48 percent. "We expect that near-term growth will now ...