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by CareyBot

Rates on 30-year fixed-rate mortgages averaged 4.93 percent with an average of 0.7 point this week, down from 4.97 percent a week ago, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey. The 15-year fixed-rate mortgage averaged 4.33 percent with an average 0.6 point, down from 4.34 percent last week and 4.68 percent a year ago. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loan averaged 4.12 percent with an average 0.5 point, down from 4.19 percent last week and 5.04 percent a year ago. The 1-year Treasury-indexed ARM averaged 4.23 percent with an average 0.6 point, down from 4.33 percent last week and 4.8 percent a year ago. Rates surveyed by Freddie Mac are for prime borrowers taking out loans with 20 percent downpayments...