Mortgage Interest Rates Edge Down
Associated Press
Mortgage rates edged down this week, with one-year adjustable-rate mortgages falling to their lowest level in nearly eight years.
The average interest rate on 30-year fixed-rate mortgages fell to 6.86% from 6.88% the previous week, Freddie Mac said.
Fifteen-year mortgages, a popular option for refinancing, slipped to 6.35% from 6.36% the week before. A year ago, 15-year mortgages averaged 6.61%. The rate on one-year adjustable mortgages fell to 4.98% from 5.04% the previous week.
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