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by CareyBot

Mortgage rates fell for the second consecutive week as slower economic growth eased inflation concerns, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage dropped to an average 6.63 percent this week, down from last week's average of 6.72 percent. The average for the 15-year fixed-rate mortgage also sank from last week, falling from 6.34 percent to 6.27 percent. Points, which are fees charged by lenders for loan processing expressed as a percent of the loan, averaged 0.3 on the 30- and 15-year loans. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 6.27 percent this week, with an average 0.4 point, down from last week when it averaged 6.35 percent. The one-year Treasury-indexed ARM averaged ...