June 21, 2007
Mortgage rates fall back
After seven straight weeks of increases, interest rates on the average 30-year mortgage fell slightly to 6.76 percent from 6.84 percent, according to Bankrate.com's weekly national survey of large lenders. The average 15-year fixed rate mortgage also dropped to 6.45 percent from 6.53 percent last week. Adjustable rate mortgages fell, too, with the average one-year adjustable rate mortgage lowering to 6.18 percent and the 5/1 adjustable rate mortgage sinking to 6.58 percent.
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