Mortgage rates edge down

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Rates on 30-year fixed-rate mortgages averaged 4.27 percent with an average point of 0.7 for the week ending April 17, down from 4.34 percent last week but up from 3.41 percent a year ago, according to Freddie Mac’s latest Primary Mortgage Market Survey.

Rates on 15-year fixed-rate mortgages and five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans also declined, while rates on one-year Treasury-indexed ARMs increased.

Source: Freddie Mac