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30-year mortgage rates fall

May 09, 2008|From Times Wire Services

Rates on 30-year fixed-rate mortgages averaged 6.05% this week, compared with 6.06% last week, mortgage company Freddie Mac said.

The rate on 15-year fixed-rate mortgages, a popular choice for refinancing, edged up to 5.60% from 5.59%. Five-year adjustable-rate mortgages dropped to 5.67% from 5.73%. One-year adjustable-rate mortgages were unchanged for a third straight week at 5.29%.

The rates do not include add-on fees known as points.

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