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by CareyBot

Rates for 30-year fixed-rate mortgages averaged 6.4 percent this week with an average 0.6 point, down from 6.47 percent a week ago and 6.67 percent a year ago, Freddie Mac said in its weekly Primary Mortgage Market Survey.The 15-year fixed-rate mortgage averaged 5.93 percent with an average 0.6 point, down from 6 percent a week ago and 6.12 percent this time last year. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.03 percent with an average 0.6 point, up from 5.99 percent a week ago but down from 6.35 percent last year.One-year Treasury-indexed ARMs averaged 5.33 percent with an average 0.7 point, up from 5.29 percent last week but down from 5.84 percent a year ago.ARM rates rose slightly after minutes of the Aug. 5 meeting of the Federal Reserve's Open Mark...