Mortgage Rates Edge Down This Week
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Rates for 30-year and 15-year mortgages edged down for the second week in a row as a growing number of investors shift bets that the Federal Reserve probably won’t begin to boost short-term interest rates until after May.
Freddie Mac, the mortgage company, reported that the average interest rate on 30-year fixed-rate mortgages dipped to 6.99% this week, down from 7.13% the previous week. A year ago, 30-year mortgages averaged 7.04%.
Fifteen-year mortgages, a popular option for refinancing, slipped to 6.49%, down from 6.64% the week before. A year ago, 15-year mortgages averaged 6.55%.
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