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Rates
The 30-year fixed-rate mortgage (FRM) climbed 20 basis points from the average 6.04 rate a week earlier although fees and points declined from 0.6 to 0.5. One year ago the 30-year FRM averaged 6.18 percent.
The average contract interest rate of the 15-year FRM was 5.72 percent with 0.5 point, up from the week before when it averaged 5.65 with 0.5 point. During the same week one year ago the average rate was 5.92 percent.Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.43 percent with an average 0.4 point. The previous week it averaged 5.37 percent with 0.5 point and during the same week in 2007 the average was 5.93 percent.
 
One-year Treasury-indexed ARMS rose to 5.11 percent from 4.98 percent. Points and fees also rose from 0.6 to 0.7. One year ago the rate was 5.49 percent.
"Long-term fixed mortgage rates trended up for a third week, bringing rates on 30-year and 15-year fixed-rate mortgages back to their levels of last November," said Frank Nothaft, Freddie Mac vice president and chief economist. "Refinancing activities, which had surged to a 12-month high in January, according to Freddie Mac's monthly refi share report, are likely to ebb following this recent rise in rates."
The Mortgage Bankers ... more

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