According to Freddie Mac a 30-year fixed-rate mortgage averaged 5.82 percent, with an average 0.6 point, for the week ending August 4, 2005, up from last week when it averaged 5.77 percent. Last year at this time, the 30-year FRM averaged 5.99 percent.
The average for the 15-year rate this week is 5.38 percent, with an average 0.6point, up from last week when it averaged 5.34 percent. A year ago, the 15-year averaged 5.40 percent.
Rates are expected to inch slowly and slightly upward. Any rate at or around 6% is still fabulous!
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