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by CareyBot

Mortgage rates declined for the second straight week in Freddie Mac's mortgage survey, thanks to the real estate slowdown and tamer inflation, while reported that rates stood still, the companies announced today. In Freddie Mac's survey, the 30-year fixed-rate mortgage fell this week to an average 6.4 percent, down from last week when it averaged 6.43 percent. The 15-year fixed-rate mortgage also declined during the period, falling from 6.11 percent to 6.06 percent. Points, which are fees charged by lenders for loan processing expressed as a percent of the loan, averaged 0.5 on the 30- and 15-year loans. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 6.08 percent this week, with an average 0.5 point, down from last week when it averaged 6.1 perc...