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Today In Real Estate |
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MORTGAGE RATE NEWS Average rates for 30-year mortgages fell for the second straight week, but still remained above record lows reached this year, Freddie Mac said Thursday. The average rate for a 30-year fixed home loan was 5.2 percent last week, down from 5.32 percent the previous week, Freddie Mac said. At this time last year, the average rate for a 30-year fixed mortgage averaged 6.37 percent. Rates on 30-year mortgages fell to a record low of 4.78 percent this year, spurring refinance activity. Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Daily rates often fluctuate significantly. Last week, the average rate on a 15-year fixed-rate mortgage fell to 4.69 percent, down from 4.77 percent the previous week, according to Freddie Mac. Average rates on five-year, adjustable-rate mortgages were 4.82 percent, down from 4.88 percent a week earlier. Rates on one-year, adjustable-rate mortgages fell to 4.82 percent from 4.94 percent. This article appeared on page H - 4 of the San Francisco Chronicle |