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by CareyBot

Mortgage rates declined this week on waning inflation threats and worries of more Federal Reserve rate hikes on the backburner, according to surveys from mortgage buyer Freddie Mac and Bankrate. Rates on the 30-year fixed-rate mortgage averaged 6.24 percent with an average 0.5 point, down from last week's average of 6.33 percent, Freddie Mac reported. Rates on the 15-year fixed-rate mortgage averaged 5.94 percent with an average 0.5 point, down from last week's 6.04 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 6.04 percent this week, with an average 0.5 point, down from last week when it averaged 6.08 percent. One-year Treasury-indexed ARMs averaged 5.53 percent with an average 0.5 point, down from last week's average of 5.55 percent. "Both long- and shor...