Mortgage Rates Dip for Second Week
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Rates on benchmark 30-year mortgages, which had been on a fairly steady climb since late June, dropped sharply for the second week in a row.
The average rate on 30-year mortgages fell to 6.01% for the week ended today from last week’s 6.16%, Freddie Mac reported in its weekly nationwide survey.
This week’s rate was the lowest since late July.
For 15-year fixed-rate mortgages, a popular option for refinancing, rates dipped to 5.30% this week, compared with 5.46% last week.
Rates for one-year adjustable mortgages fell to 3.81% from 3.87%.
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