Thankfully,Rates Drop

The first decline in five weeks drove mortgage interest to near historically low levels once again as the 30-year fixed rate averaged 5.07 percent for the week ended April 15,down from 5.21 percent a week earlier. Freddie Mac also reports that the 15-year fixed rate averaged 4.40 percent,down from 4.52 percent;one-year adjustable-rate mortgages averaged 4.13 percent,down from 4.14 percent;and interest on the five-year ARM came in at an average of 4.08 percent compared to 4.25 percent.

[SOURCES:Information,Inc.;Freddie Mac]

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