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Freddie Mac reported that mortgages rates increased, albeit only slightly, after five straight weeks of declines for fixed rate products. The Mortgage Bankers?Associations weekly survey, however, reported an across the board decline. As usual, however, the two surveys ended up reporting close to identical rates.
Freddie reported the 30-year fixed mortgage interest rate at 5.77 percent, up 0.2 percent from the previous week with fees and points doen 0.1 to 0.5. The 15-year also bumped up 0.2 to 5.33 percent with fees and points unchanged at 0.6. The 1-year ARM barely budged, increasing from 4.22 percent to 4.23 but fees and points for this product dropped to 0.6 from 0.7 the week before. The greatest increase was for the 5/1 ARM which rose from 5.16 percent to 5.21 percent while fees and points remained unchanged at 0.6.
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