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30-Year Mortgage Rate Inches Up to 6.12%

IN BRIEF/ THE ECONOMY

January 27, 2006|From Associated Press

Average rates on 30-year fixed-rate mortgages rose to 6.12% from 6.1% last week, mortgage company Freddie Mac said.

Rates on 15-year fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 5.7%, up from 5.67% last week. One-year adjustable-rate mortgages edged up to 5.2%, compared with 5.18% last week. Rates on five-year hybrid adjustable-rate mortgages, however, were unchanged at 5.75%.

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

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