Mortgage rates dip as fears over Fed pullback ease

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As concerns over a Fed pullback from the mortgage and Treasury markets eased, mortgage rates dipped this week, Freddie Mac reported.

Rates on 30-year fixed-rate mortgages averaged 4.37 percent with an average point of 0.7 percent for the week ending July 18, down from 4.51 percent last week but up from 3.53 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 dropped, while rates on one-year Treasury-indexed ARMs stayed flat. Source: Freddie Mac