Bankrate.com Said Average 30-Yr Mortgage Drops from 6.74% to 6.32%
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Bankrate.com said mortgage rates reversed course in a big way this week, with the average 30-year fixed mortgage rate dropping from 6.74 percent to 6.32 percent.
Bankrate.com said the average 30-year fixed mortgage has an average of 0.39 discount and origination points.
The average 15-year fixed rate mortgage nosedived to 5.93 percent, while the average jumbo 30-year fixed rate dropped to 6.32 percent. Adjustable mortgage rates were moderately lower, with the average 1-year ARM now 6.14 percent and the average 5/1 ARM sinking to 6.49 percent.
Bankrate.com noted that one week after posting the biggest one week increase since April 1987, mortgage rates staged the largest one week decline since May 1995.
Bankrate.com said the average 30-year fixed mortgage has an average of 0.39 discount and origination points.
The average 15-year fixed rate mortgage nosedived to 5.93 percent, while the average jumbo 30-year fixed rate dropped to 6.32 percent. Adjustable mortgage rates were moderately lower, with the average 1-year ARM now 6.14 percent and the average 5/1 ARM sinking to 6.49 percent.
Bankrate.com noted that one week after posting the biggest one week increase since April 1987, mortgage rates staged the largest one week decline since May 1995.
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