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As of Thursday, August 14th, the 30-year fixed-rate mortgage (FRM) averaged 6.52% with an average 0.7 point, unchanged from two weeks ago when it averaged 6.52%. Last year at that time, the 30-year FRM averaged 6.62%.
The 15-year FRM last week averaged 6.07% with an average 0.7 point, down from two weeks ago when it averaged 6.10%. A year ago at that time, the 15-year FRM averaged 6.30%.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.02% last week, with an average 0.6 point, down from two weeks ago when it averaged 6.05%. A year ago, the 5-year ARM averaged 6.35%.
One-year Treasury-indexed ARMs averaged 5.18% last week with an average 0.5 point, down from two weeks ago when it averaged 5.22%. At that time last year, the 1-year ARM averaged 5.67%.
(Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.) Please call LARRY & SHEILA for all your Real Estate goals on the North Shore of Long Island, New York,
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