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Article: Inching Lower Still, Mortgage Rates Set New Records According to Freddie Mac Weekly Survey.
- Article from:
- PR Newswire
- Article date:
- October 1, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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To Hear Recorded Commentary About This Week's Interest Rates and Other Related
Matters, Call 1-888-780-2060 After 12:00 Noon.
MCLEAN, Va., Oct. 1 /PRNewswire/ -- In Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.60 percent, with fees and points averaging 1.0, for the week ending October 2, 1998, slipping for the 6th straight week and lower than last week's average of 6.64 percent; a year ago the 30-year FRM averaged 7.31 percent. This week's average breaks last week's record low.
The rate for 1-year Treasury-indexed adjustable-rate mortgages (ARMs) averaged 5.39 percent this week, with fees and ...