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Rates pull back across the board

August 01, 2008|From Times Wire Services

Average rates on 30-year mortgages dipped to 6.52% this week from 6.63% last week, mortgage company Freddie Mac said.

Average rates on 15-year fixed-rate mortgages, a popular option for refinancing, fell to 6.07% from 6.18%. Rates on five-year adjustable-rate mortgages dropped to 6.07% from 6.16%. One-year adjustable-rate mortgages declined to 5.27% from 5.49%.

These rates do not include add-on fees known as points. The nationwide fee for 30-year mortgages averaged 0.7 of a point. The fee for 15-year, five-year and one-year mortgages averaged 0.6 of a point.

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