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Adjustable Rate Mortgages

BUSINESS
August 14, 2009 | Times Staff and Wire Reports
The average rate on a 30-year fixed-rate mortgage was 5.29% this week, up from 5.22% last week, mortgage company Freddie Mac said. The average rate on a 15-year fixed-rate mortgage was 4.68%, an increase from 4.63%. Five-year adjustable-rate mortgages averaged 4.75%, up from 4.73%. One-year adjustable-rate mortgages dropped to 4.72% from 4.78%. The rates do not include add-on fees known as points. The nationwide fee averaged 0.7 of a point for 30- and 15-year fixed-rate mortgages, 0.6 of a point for five-year adjustable-rate mortgages and 0.4 of a point for one-year adjustable-rate mortgages.
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BUSINESS
May 22, 2009 | Mary Ellen Podmolik, Podmolik writes for the Chicago Tribune.
Are mortgage rates on the way up or down? It depends on whom you ask. Two groups came out with their weekly mortgage rate surveys Thursday, with nearly a half-percentage-point difference between their averages for traditional 30-year mortgages. The good news, though, is that there seems to be consensus in the lending industry that mortgage rates aren't expected to change dramatically soon. Bankrate.
BUSINESS
April 3, 2009 | Associated Press
Rates on 30-year mortgages fell to the lowest level on record for the second consecutive week after the Federal Reserve launched a new effort to assist the staggering U.S. housing market. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.78% this week, from 4.85% last week. It was the lowest in the history of Freddie Mac's survey, which dates back to 1971. Rates are down by more than a full percentage point from a year ago.
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