30-Year Mortgage Rate Retreats to 5.74%
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Rates on 30-year mortgages retreated to 5.74% this week after climbing to 5.82% last week, the highest level in a month, mortgage company Freddie Mac reported.
For 15-year, fixed-rate mortgages, a popular option for refinancing, rates dropped this week to 5.14%, down from 5.24% last week.
Rates on one-year adjustable-rate mortgages declined to 4.01% this week, down from 4.08% last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. Each mortgage type carried a 0.6-point fee.
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