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Article: Freddie Sees Good Signs in Weekly Data.(Freddie Mac and mortgage rates)(Brief Article)(Statistical Data Included)
- Article from:
- American Banker
- Article date:
- June 14, 2002
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. 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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Mortgage rates were virtually unchanged this week, and that is good news for homebuyers and lenders as the 30-year fixed rate averaged 6.71%, according to Freddie Mac.
Last year at this time the 30-year fixed was 7.14%. The 15-year fixed rate averaged 6.17% this week, down slightly from 6.18% last week and 6.70% from a year ago, Freddie said in survey results released Thursday.
The one-year, Treasury-indexed adjustable-rate mortgages averaged 4.67%, down from 4.71% last week and 5.82% a year ago.
"There is a slight chance the Federal Reserve Board will raise rates when it meets later this month, ...