Long-term mortgage rates slipped for the second straight week on news that inflation is now less of a threat, according to the latest surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.32 percent for the week ended today, down from last week's average of 6.34 percent. The average for the 15-year fixed loan is 5.97 percent, down slightly from last week's average of 5.98 percent. Points on both the 30- and 15-year averaged 0.6. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.96 percent this week, with an average 0.7 point, up from last week when it averaged 5.93 percent. The one-year Treasury-indexed ARM averaged 5.41 percent, with an average 0.7 point, up from last week when it averaged 5.37 percent. "The most recent economic indicators released this week showed that inflation is, indeed, being held in check," said Frank Nothaft, Freddie Mac vice president and chief economist. "That news allo...
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