Rates on fixed-rate mortgages improve

Rates on fixed-rate mortgages fell for the week ending Aug. 21, while rates on adjustable-rate mortgages were stable or up slightly, Freddie Mac said today in its weekly Primary Mortgage Market Survey.

Rates on 30-year fixed-rate mortgages averaged 6.47 percent with an average 0.7 point, down from 6.52 percent last week and 6.52 percent a year ago. The 15-year fixed-rate mortgage averaged 6.00 percent with an average 0.7 point, down from 6.07 percent a week ago, and 6.18 percent a year ago.

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