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Article: 30-year mortgage rates fall to month-long low
- Article from:
- Capital (Annapolis)
- Article date:
- May 18, 2008
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Copyright informationCopyright 2008 Capital (Annapolis). Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON, D.C. (AP) - Rates on 30-year mortgages edged down
last week to their lowest point in a month, a spot of welcome news
to would-be home buyers.
Freddie Mac, the mortgage company, reported Thursday that 30-
year fixed-rate mortgages averaged 6.01 percent for the week ending
May 15. That was down from the previous week's 6.05 percent and was
the lowest since mid-April when rates averaged 5.88 percent.
Other rates also fell.
Five-year adjustable-rate mortgages dropped to 5.57 percent, from
5.67 percent the previous week. One-year adjustable-rate mortgages
fell to 5.18 percent, compared with 5.29 percent. However, rates on
15-year fixed-rate mortgages, a popular choice for refinancing, ...
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