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As uncertainty about the economy pushes Treasury yields lower, average fixed mortgage rates have moved down for the third week in a row, according to the recent Freddie Mac Primary Mortgage Market Survey® (PMMS®).
Dipping just below four percent, the 30-year fixed-rate mortgage (FRM) averaged 3.91 percent with an average 0.6 point. The 15-year FRM averaged 3.13 percent, also with an average 0.6 point.
In addition, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.95 percent with an average 0.4 point. The 1-year Treasury-indexed ARM averaged 2.54 percent with an average 0.3 point.
Source: Freddie Mac
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