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3rd Straight Week of Fixed Rates Climbing!

Fixed-mortgage rates moved higher for the 3rd straight week in a row, following long-term Treasury yields.  Rates for the week ending August 16, 2012 were as follows:

– 30-Year Fixed Rate Mortgage – Averaged 3.62% with an average .6 point. This is an increase from last week’s average of 3.59%. Last year at this time, 30-Year FRMs averaged 4.15%.

– 15-Year Fixed Rate Mortgage – Averaged 2.88% with an average .6 point. This is an increase from last week’s average of 2.84%. Last year at this time 15-Year FRMs averaged 3.36%.

– 5-Year Treasury Indexed Hybrid Adjustable Rate Mortgage – Averaged 2.76% with an average .6 point. This is a decrease from last week’s average of 2.77%. Last year this time 5-Year ARMs averaged 3.08%.

– 1-Year Treasury Indexed Adjustable Rate Mortgage – Averaged 2.69% with an average .4 point. This is an increase from last week’s average of 2.65%. Last year this time 1-Year ARMs averaged 2.86%.

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