Friday, September 15, 2006

Mortgage Rates Drop Slightly Last Week.

In an article from "Realtor Magazine Online", sources state that:

"The national average rate on a 30-year, fixed-rate mortgage was 6.43 percent last week, down slightly from 6.47 percent the week before but up from 5.74 percent a year ago, according to Freddie Mac.The average for the 15-year, fixed-rate mortgage was 6.11 percent, down from the previous week’s 6.16 percent but again higher than the 5.32 percent average for the same period last year.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.1 percent, down from 6.14 percent. A year ago, the five-year ARM averaged 5.26 percent.
The average rate on one-year ARMs was 5.6 percent last week, compared with 5.63 percent the previous week and 4.46 percent a year ago. "


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