Worries over slower economic growth helped push mortgage rates lower this week, Freddie Mac reported today in its latest survey. According to Freddie Mac, the 30-year fixed-rate mortgage sank to an average 6.33 percent from last week's 6.4 percent, and the 15-year fixed rate dropped to an average 5.99 percent from 6.08 percent. Points, which are fees lenders charge for loan processing expressed as a percent of the loan, averaged 0.5 and 0.6, respectively, on the 30- and 15-year loans. Average rates on adjustable-rate mortgages (ARMs) also declined this week, with the five-year Treasury-indexed hybrid ARM falling to an average 6.03 percent from 6.11 percent and the one-year Treasury-indexed ARM sinking to an average 5.66 percent from 5.76 percent. Points on the five-year and one-year loans ...
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