Friday, April 12, 2013 - Article by: MEL SMITH--LENDER OF THE MONTH - . -
Long-term mortgage rates moved lower for the second consecutive week, with a 30-year mortgage falling back below 3.5 percent.
Freddie Mac's weekly rate report says the average rate on a 30-year fixed-rate mortgage fell to 3.43 percent in the week ending April 11, down from 3.54 percent last week. The average rate on a 30-year fix hit a record low 3.31 percent in November.
A 15-year fix averaged 2.65 percent, down from 2.74 percent.
A one-year adjustable-rate mortgage averaged 2.62 percent, down from 2.63 percent.
The Mortgage Bankers Association said mortgage applications rose 6 percent last week, as near record low rates continue to attract both buyers and homeowners seeking to refinance
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