Mortgage rates down across board
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Rates on 30-year fixed-rate mortgages fell to 6.33% this week, down from 6.4% last week and the lowest level since Sept. 13, mortgage firm Freddie Mac said.
Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, averaged 5.99%, down from 6.08% last week. Rates on five-year adjustable-rate mortgages averaged 6.03%, down from 6.11%. One-year ARMs dropped to 5.66%, down from 5.76% last week.
The rates do not include add-on fees known as points. Thirty-year mortgages and five-year ARMs both carried a nationwide average fee of 0.5 of a point. Fees on 15-year loans and the one-year ARM averaged 0.6 of a point.
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