Long-Term Mortgage Rates Remain Mixed
The average interest rate on 30-year fixed-rate mortgages edged up to 6.92%, from 6.91% last week, Freddie Mac said. Even with the advance, it marked the third week in a row that 30-year mortgages were less than 7%.
Fifteen-year mortgages, a popular option for refinancing, stood at 6.47% this week, unchanged from the previous week.
On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.67%, down from 5.68% the previous week.
These rates do not include add-on fees known as points, which averaged about 1% of the loan amount for all three types of mortgages.
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