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Mortgage Rates Are Down

Hooray!  Mortgage rates are down after rising for three weeks.  30 yr. fixed mortgage is now at an average of 6.26%.  This time last year, the 30-year loan average was 6.63%.
If you want to lower the the loan interest rate, you can still buy down the interest rate on your mortgage if you want to.  At the time of closing, a point, or "discount point," can be bought to decrease the interest rate. To buy a point it will cost 1% of the loan amount.
Current Mortgage Rates
 
wrtBankRateLinkMtg('30yrFixedMtg');30 yr fixed mtg6.26%
wrtBankRateLinkMtg('15yrFixedMtg');15 yr fixed mtg5.78%
wrtBankRateLinkMtg('30yrFixedJumboMtg');30 yr fixed jumbo mtg7.32%
wrtBankRateLinkMtg('51Arm');5/1 ARM5.58%
wrtBankRateLinkMtg('51JumboArm');5/1 jumbo ARM6.26%
Published Friday, July 04, 2008 5:24 PM by Mary Alexander

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