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30-Year Mortgage Rates Highest in 2 1/2 Years

April 07, 2006|From the Associated Press

Rates on 30-year, fixed-rate mortgages averaged 6.43% this week, up from 6.35% last week and the highest since the week of Sept. 5, 2003, when it was 6.44%, mortgage company Freddie Mac reported.

Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 6.1%, up from 6% last week.

One-year adjustable-rate mortgages rose to 5.57%, up from 5.51% last week. Five-year hybrid adjustable-rate mortgages rose to 6.11% from 6.02%.

The rates do not include add-on fees known as points. The 30-year mortgage carried an average fee of 0.6 point and the 15-year mortgage had an average fee of 0.5 point. The one-year adjustable-rate had a fee of 0.7 point and the five-year rate carried a fee of 0.6 point.

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