30-Year Mortgage Rates Fall Below 6%
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Rates on 30-year, fixed-rate mortgages fell to 5.98% this week, down from 6% last week and the lowest since April 23, mortgage company Freddie Mac said.
Rates on 15-year, fixed-rate mortgages, a popular option for refinancing, edged down to 5.39%, down from 5.40% last week. Rates on one-year adjustable rate mortgages rose to 4.12%, up from 4.02% last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. Each loan type carried an average fee of 0.6 point this week.
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